DAILY COMMODITY MARKET STRATEGY-20 Aug 2014

BASE METAL WRAP: Aluminium and zinc rose in London as a jump in home building fueled speculation that demand will accelerate in the U.S., the world’s second-biggest consumer of industrial metals.

ENERGY WRAP: West Texas Intermediate swung between gains and losses amid speculation that crude and fuel inventories fell 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 retreating for three days on signs that the U.S. recovery is gathering momentum without generating higher consumer prices. Platinum traded near a two-month low.

GLOBAL EVENTS TO WATCH: RBA Gov Stevens Speaks, Trade Balance, All Industries Activity m/m, MPC Asset Purchase Facility Votes, MPC Official Bank Rate Votes, Wholesale Sales m/m, Crude Oil Inventories, FOMC Meeting Minutes.
AGRI COMMODITY
BULLION COMMODITY
CS CHANA (SEPTEMBER)) OVERVIEW:
TREND CONSOLIDATE
SUP1:2940
SUP2:2870
RESIST1:3000
RESIST2:3020
TRADING STRATEGY: BUY ON DIPS
CS COPPER (AUG) OVERVIEW:
TREND CONSOLIDATE
SUP1:414
SUP2:412
RESIST1:417
RESIST2:421
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CS JEERA (SEPTEMBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:11150
SUP2:10920
RESIST1:11450
RESIST2:11500
TRADING STRATEGY: BUY ON DIPS
CS CRUDE (SEPTEMBER) OVERVIEW:
TREND BEARISH
SUP1:5640
SUP2:5550
RESIST1:5770
RESIST2:5850
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
SUP1:28150
SUP2:28000
RESIST1:28360
RESIST2:28700
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
SUP1:41750
SUP2:41300
RESIST1:42800
RESIST2:43000
TRADING STRATEGY: SELL ON RISE
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