DAILY COMMODITY MARKET STRATEGY-19 Aug 2014

BASE METAL WRAP: Copper in London traded near the highest price in almost a week after data showed confidence among U.S. homebuilders reached the most in seven months and as investors look ahead to Chinese manufacturing data.

ENERGY WRAP: West Texas Intermediate rose for the second time in three days before supply data that may signal the strength of fuel demand in the U.S., the world’s biggest oil consumer. Brent was steady in London.

PRECIOUS METAL WRAP: Gold held below $1,300 an ounce after two days of losses on optimism that the U.S. recovery is gaining traction while tensions ease in Ukraine and the Middle East. Palladium traded near a 13-year high and platinum rose.

GLOBAL EVENTS TO WATCH: Monetary Policy Meeting Minutes, CPI y/y, Building Permits, CPI m/m, Core CPI m/m, Housing Starts.
AGRI COMMODITY
BULLION COMMODITY
CS CHANA (SEPTEMBER)) OVERVIEW:
TREND CONSOLIDATE
SUP1:2878
SUP2:2835
RESIST1:2960
RESIST2:3020
TRADING STRATEGY: SELL ON RISE
CS COPPER (AUG) OVERVIEW:
TREND CONSOLIDATE
SUP1:416
SUP2:412
RESIST1:421
RESIST2:425
TRADING STRATEGY: SELL ON RISE
CS JEERA (SEPTEMBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:11100
SUP2:10920
RESIST1:11350
RESIST2:11450
TRADING STRATEGY: SELL ON RISE
CS CRUDE (SEPTEMBER) OVERVIEW:
TREND BEARISH
SUP1:5680
SUP2:5580
RESIST1:5870
RESIST2:5910
TRADING STRATEGY: SELL ON RISE
CS TURMERIC (SEPTEMBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:6450
SUP2:6310
RESIST1:6670
RESIST2:6780
TRADING STRATEGY: BUY ON DIPS
CS GOLD (OCTOBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:28250
SUP2:28100
RESIST1:28525
RESIST2:28935
TRADING STRATEGY: SELL ON RISE
CS SOYABEAN (OCTOBER) OVERVIEW:
TREND BEARISH
SUP1:3350
SUP2:3260
RESIST1:3490
RESIST2:3550
TRADING STRATEGY: SELL ON RISE
CS SILVER (SEPTEMBER) OVERVIEW:
TREND BEARISH
SUP1:42500
SUP2:41760
RESIST1:43500
RESIST2:44050
TRADING STRATEGY: SELL ON RISE

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