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

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