DAILY COMMODITY MARKET STRATEGY-28 Aug 2014

BASE METAL WRAP: Copper traded near the lowest in almost a week after China reported industrial profit growth slowed and before economic expansion data today from the U.S.

ENERGY WRAP: Gasoline fell after a government report showed U.S. output rose before the Labor Day holiday that marks the end of the country’s peak-demand driving season. West Texas Intermediate crude settled little changed.

PRECIOUS METAL WRAP: Gold futures dropped for the second time in three days on signs of waning investor demand for the metal as an alternative asset.

GLOBAL EVENTS TO WATCH: Private Capital Expenditure q/q, German Prelim CPI m/m, Prelim GDP q/q, Unemployment Claims, Prelim GDP Price Index q/q, Pending Home Sales m/m, Natural Gas Storage.
AGRI COMMODITY
BULLION COMMODITY
CS CHANA (SEPTEMBER)) OVERVIEW:
TREND BEARISH
SUP1:2760
SUP2:2695
RESIST1:2900
RESIST2:3020
TRADING STRATEGY: SELL ON RISE
CS COPPER (AUG) OVERVIEW:
TREND CONSOLIDATE
SUP1:422
SUP2:420
RESIST1:427
RESIST2:430
TRADING STRATEGY: SELL ON RISE
CS JEERA (SEPTEMBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:10970
SUP2:10850
RESIST1:11230
RESIST2:11460
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
RESIST1:28050
RESIST2:28270
TRADING STRATEGY: SELL ON RISE
CS SOYABEAN (OCTOBER) OVERVIEW:
TREND BEARISH
SUP1:3250
SUP2:3200
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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