DAILY COMMODITY MARKET STRATEGY-26 Aug 2014

BASE METAL WRAP: Aluminium in London climbed for a second day following Alcoa Inc.’s decision to close a smelter in Italy and before durable goods orders data from the U.S., the second-largest consumer of industrial metals.

ENERGY WRAP: West Texas Intermediate traded near the lowest price in seven months before supply data that will 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 losses near a two-month low on speculation that the U.S. Federal Reserve will raise borrowing costs next year, strengthening the dollar and damping demand for an alternative investment.

GLOBAL EVENTS TO WATCH: Trade Balance, CB Leading Index m/m, Core Durable Goods Orders m/m, Durable Goods Orders m/m, HPI m/m, S&P/CS Composite-20 HPI y/y, CB Consumer Confidence, Richmond Manufacturing Index. 

AGRI COMMODITY	BULLION COMMODITY
CS CHANA (SEPTEMBER)) OVERVIEW: TREND CONSOLIDATE SUP1:2830 SUP2:2760 RESIST1:2960 RESIST2:3020 TRADING STRATEGY: SELL ON RISE	CS COPPER (AUG) OVERVIEW: TREND CONSOLIDATE SUP1:426 SUP2:421 RESIST1:432 RESIST2:436 TRADING STRATEGY: SELL ON RISE
CS JEERA (SEPTEMBER) OVERVIEW: TREND CONSOLIDATE SUP1:10850 SUP2:10590 RESIST1:11460 RESIST2:11500 TRADING STRATEGY: SELL ON RISE	CS CRUDE (SEPTEMBER) OVERVIEW: TREND BEARISH SUP1:5640 SUP2:5550 RESIST1:5755 RESIST2:5800 TRADING STRATEGY: SELL ON RISE
CS TURMERIC (SEPTEMBER) OVERVIEW: TREND CONSOLIDATE SUP1:6300 SUP2:6100 RESIST1:6750 RESIST2:6800 TRADING STRATEGY: SELL ON RISE	CS GOLD (OCTOBER) OVERVIEW: TREND BEARISH SUP1:27680 SUP2:27300 RESIST1:27950 RESIST2:28270 TRADING STRATEGY: SELL ON RISE
CS SOYABEAN (OCTOBER) OVERVIEW: TREND BEARISH SUP1:3300 SUP2:3260 RESIST1:3490 RESIST2:3550 TRADING STRATEGY: SELL ON RISE	CS SILVER (SEPTEMBER) OVERVIEW: TREND CONSOLIDATE SUP1:41700 SUP2:40500 RESIST1:42500 RESIST2:42800 TRADING STRATEGY: SELL ON RISE

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