DAILY COMMODITY MARKET STRATEGY-26 Aug 2014

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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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