DAILY COMMODITY MARKET STRATEGY-5 Aug 2014

BASE METAL WRAP: Copper rose on Monday as a rally in China's stock markets indicated improving prospects for demand in the world's largest consumer of the industrial metal, although growing global supplies kept investors cautious.

ENERGY WRAP:
West Texas Intermediate crude traded near the highest price in three days before supply data that will signal the strength of fuel demand in the U.S., the world’s biggest oil consumer. Brent in London was steady.

PRECIOUS METAL WRAP: Gold held below $1,300 an ounce as Portugal’s bailout of Banco Espirito Santo SA reduced concern the lender’s crisis may spread and tension in Gaza eased, damping demand for a haven. Silver rose from a six-week low.

GLOBAL EVENTS TO WATCH:
Trade Balance, HSBC Services PMI, Cash Rate, RBA Rate Statement, Services PMI, Final Services PMI, ISM Non-Manufacturing PMI, Factory Orders m/m, IBD/TIPP Economic Optimism.

AGRI COMMODITY
BULLION COMMODITY
CS CHANA (AUGUST) OVERVIEW:
TREND CONSOLIDATE
SUP1:2765
SUP2:2695
RESIST1:2840
RESIST2:2926
TRADING STRATEGY: SELL ON RISE
CS COPPER (AUG) OVERVIEW:
TREND CONSOLIDATE
SUP1:433
SUP2:427
RESIST1:440
RESIST2:444
TRADING STRATEGY: BUY ON DIPS
CS JEERA (AUGUST) OVERVIEW:
TREND CONSOLIDATE
SUP1:11040
SUP2:10970
RESIST1:11320
RESIST2:11570
TRADING STRATEGY: SELL ON RISE
CS CRUDE (AUGUST) OVERVIEW:
TREND CONSOLIDATE
SUP1:5950
SUP2:5930
RESIST1:6084
RESIST2:6145
TRADING STRATEGY: SELL ON RISE
CS TURMERIC (AUGUST) OVERVIEW:
TREND BULLISH
SUP1:6570
SUP2:6490
RESIST1:6740
RESIST2:6830
TRADING STRATEGY: BUY ON DIPS
CS GOLD (OCTOBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:28000
SUP2:27470
RESIST1:28200
RESIST2:28360
TRADING STRATEGY: SELL ON RISE
CS SOYABEAN (OCTOBER) OVERVIEW:
TREND BEARISH
SUP1:3580
SUP2:3500
RESIST1:3700
RESIST2:3750
TRADING STRATEGY: SELL ON RISE
CS SILVER (SEPTEMBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:43600
SUP2:42900
RESIST1:44800
RESIST2:45300
TRADING STRATEGY: SELL ON RISE

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