DAILY COMMODITY MARKET STRATEGY-14 Aug 2014


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BASE METAL WRAP: London copper fell on Tuesday to near six-week lows as improving supply and renewed tension between Ukraine and Russia combined with a summer lull to curb investors' appetite for risky assets.

ENERGY WRAP: West Texas Intermediate fell amid speculation that U.S. oil demand is slowing after a government report showed weekly crude inventories expanded for the time since June. Brent dropped in London.

PRECIOUS METAL WRAP: Gold traded little changed below a three-week high as investors gauged the health of the U.S. economy and tensions persisted in Ukraine and the Middle East. Gold demand in China shrank in the second quarter as consumers in the biggest user bought fewer bars, coins and jewelry amid a clampdown on corruption and as the buying spurred by last year’s price slump wasn’t sustained.

GLOBAL EVENTS TO WATCH: Retail Sales q/q, French Prelim GDP q/q, German Prelim GDP q/q, Unemployment Claims, Import Prices m/m, Natural Gas Storage, 30-y Bond Auction.
AGRI COMMODITY
BULLION COMMODITY
CS CHANA (SEPTEMBER)) OVERVIEW:
TREND CONSOLIDATE
SUP1:2890
SUP2:2845
RESIST1:2980
RESIST2:3020
TRADING STRATEGY: BUY ON DIPS
CS COPPER (AUG) OVERVIEW:
TREND BEARISH
SUP1:416
SUP2:412
RESIST1:425
RESIST2:431
TRADING STRATEGY: SELL ON RISE
CS JEERA (SEPTEMBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:11160
SUP2:10920
RESIST1:11500
RESIST2:11570
TRADING STRATEGY: SELL ON RISE
CS CRUDE (AUGUST) OVERVIEW:
TREND CONSOLIDATE
SUP1:5930
SUP2:5830
RESIST1:5976
RESIST2:6085
TRADING STRATEGY: SELL ON RISE
CS TURMERIC (SEPTEMBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:6570
SUP2:6310
RESIST1:6670
RESIST2:6770
TRADING STRATEGY: SELL ON RISE
CS GOLD (OCTOBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:28500
SUP2:28320
RESIST1:29185
RESIST2:29500
TRADING STRATEGY: SELL ON RISE
CS SOYABEAN (OCTOBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:3500
SUP2:3480
RESIST1:3700
RESIST2:3750
TRADING STRATEGY: BUY ON DIPS
CS SILVER (SEPTEMBER) OVERVIEW:
TREND BEARISH
SUP1:43000
SUP2:41760
RESIST1:44050
RESIST2:44310
TRADING STRATEGY: SELL ON RISE
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