DAILY COMMODITY MARKET STRATYEGY-21 Aug 2014

BASE METAL WRAP: Copper prices are seen rebounding 8.4 percent as demand for the metal used in pipes and wiring expands amid signs of tightening supplies, Standard Chartered Plc forecasts. Aluminum in London retreated from a six-month high as industrial metals declined after worse-than-expected manufacturing data from China, the biggest consumer.

ENERGY WRAP: West Texas Intermediate swung between gains and losses as U.S. crude stockpiles fell and a measure of China’s manufacturing missed estimates. Brent was steady in London.

PRECIOUS METAL WRAP: Gold fell for a fifth day, poised for the longest slump since June, as minutes of the Federal Reserve’s last meeting signaled that policy makers may increase borrowing costs earlier than expected. Platinum headed for the longest losing run in 27 years.

GLOBAL EVENTS TO WATCH: HSBC Flash Manufacturing PMI, French Flash Manufacturing PMI, German Flash Manufacturing PMI, Retail Sales m/m, Unemployment Claims, Flash Manufacturing PMI, Philly Fed Manufacturing Index, Existing Home Sales, CB Leading Index m/m, Natural Gas Storage, Jackson Hole Symposium.
AGRI COMMODITY
BULLION COMMODITY
CS CHANA (SEPTEMBER)) OVERVIEW:
TREND CONSOLIDATE
SUP1:2958
SUP2:2870
RESIST1:3000
RESIST2:3020
TRADING STRATEGY: SELL ON RISE
CS COPPER (AUG) OVERVIEW:
TREND CONSOLIDATE
SUP1:421
SUP2:415
RESIST1:426
RESIST2:433
TRADING STRATEGY: SELL ON RISE
CS JEERA (SEPTEMBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:11150
SUP2:10920
RESIST1:11450
RESIST2:11500
TRADING STRATEGY: BUY ON DIPS
CS CRUDE (SEPTEMBER) OVERVIEW:
TREND BEARISH
SUP1:5640
SUP2:5550
RESIST1:5770
RESIST2:5850
TRADING STRATEGY: SELL ON RISE
CS TURMERIC (SEPTEMBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:6450
SUP2:6310
RESIST1:6670
RESIST2:6780
TRADING STRATEGY: BUY ON DIPS
CS GOLD (OCTOBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:28000
SUP2:27800
RESIST1:28282
RESIST2:28360
TRADING STRATEGY: SELL ON RISE
CS SOYABEAN (OCTOBER) OVERVIEW:
TREND BEARISH
SUP1:3350
SUP2:3260
RESIST1:3490
RESIST2:3550
TRADING STRATEGY: SELL ON RISE
CS SILVER (SEPTEMBER) OVERVIEW:
TREND BEARISH
SUP1:41750
SUP2:41300
RESIST1:42500
RESIST2:42800
TRADING STRATEGY: SELL ON RISE
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