DAILY COMMODITY MARKET STRATEGY-7 Aug 2014
BASE METAL WRAP: Copper prices fell to their lowest level in more than five weeks Wednesday, pressured by a stronger dollar and concerns about growth in China, the world's largest consumer of the metal.
ENERGY WRAP: West Texas Intermediate crude swung between gains and losses near a six-month low before trade data that will signal the strength of the economy in China, the world’s second-biggest oil consumer. Brent was steady.
PRECIOUS METAL WRAP: Gold held gains after the biggest advance in three weeks as tensions flared over Ukraine, increasing demand for a haven. Palladium climbed.
GLOBAL EVENTS TO WATCH: Employment Change q/q, Unemployment Rate, Asset Purchase Facility, Official Bank Rate, MPC Rate Statement, Minimum Bid Rate, Building Permits m/m, ECB Press Conference, Unemployment Claims, Ivey PMI, Natural Gas Storage.
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
SUP1:427
SUP2:425
RESIST1:435
RESIST2:440
TRADING
STRATEGY: SELL ON RISE |
CS
JEERA (SEPTEMBER) OVERVIEW:
TREND
CONSOLIDATE
SUP1:11265
SUP2:11160
RESIST1:11320
RESIST2:11570
TRADING
STRATEGY: SELL ON RISE |
CS
CRUDE (AUGUST) OVERVIEW:
TREND
BEARISH
SUP1:5950
SUP2:5930
RESIST1:6037
RESIST2:6084
TRADING
STRATEGY: SELL ON RISE |
CS
TURMERIC (SEPTEMBER) OVERVIEW:
TREND
BULLISH
SUP1:6778
SUP2:6700
RESIST1:6922
RESIST2:7000
TRADING
STRATEGY: BUY ON DIPS |
CS
GOLD (OCTOBER) OVERVIEW:
TREND
CONSOLIDATE
SUP1:28510
SUP2:28400
RESIST1:28750
RESIST2:29185
TRADING
STRATEGY: BUY ON DIPS |
CS
SOYABEAN (OCTOBER) OVERVIEW:
TREND
BEARISH
SUP1:3500
SUP2:3480
RESIST1:3615
RESIST2:3700
TRADING
STRATEGY: SELL ON RISE |
CS
SILVER (SEPTEMBER) OVERVIEW:
TREND
CONSOLIDATE
SUP1:43600
SUP2:43200
RESIST1:44200
RESIST2:44800
TRADING
STRATEGY: SELL ON RISE |
No comments:
Post a Comment