DAILY COMMODITY MARKET STRATEGY-6 Aug 2014

BASE METAL WRAP: London copper fell to its lowest level in two weeks and Shanghai prices slid nearly 1 percent, reflecting investor caution as weakness in China's services sector cast doubts on its economic recovery momentum.

ENERGY WRAP: West Texas Intermediate rose for a second time in three days after an industry report showed crude stockpiles declined in the U.S., the world’s biggest oil user. Brent climbed in London.

PRECIOUS METAL WRAP: Silver futures fell to a six-week low as the dollar’s advance reduced the appeal of commodities as alternative investments. Gold, platinum and palladium dropped.

GLOBAL EVENTS TO WATCH: Employment Change q/q, Unemployment Rate, Manufacturing Production m/m, Trade Balance, Trade Balance, Crude Oil Inventories.

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
SUP1:430
SUP2:425
RESIST1:440
RESIST2:444
TRADING STRATEGY: SELL ON RISE
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
SUP2:27600
RESIST1:28400
RESIST2:28600
TRADING STRATEGY: BUY ON DIPS
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
SUP1:43200
SUP2:42900
RESIST1:44200
RESIST2:44800
TRADING STRATEGY: SELL ON RISE

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