DAILY COMMODITY MARKET STRATEGY-17 Sep 2014

Equity TipsBASE METAL WRAP: Industrial metals climbed for a second day after a report that China’s central bank intensified stimulus measures to support growth, boosting demand prospects in the biggest consumer.

ENERGY WRAP: West Texas Intermediate traded near the highest price in almost two weeks after OPEC’s secretary general said the group may cut crude-output targets next year. Brent was steady in London.

PRECIOUS METAL WRAP: Gold held above the lowest level since January before the Federal Reserve ends a two-day policy meeting that’s expected to see a further cut to stimulus at a time when other central banks are spurring their economies.

GLOBAL EVENTS TO WATCH: TIC Long-Term Purchases, Current Account, Average Earnings Index 3m/y, Claimant Count Change, MPC Asset Purchase Facility Votes, MPC Official Bank Rate Votes, CPI m/m, Core CPI m/m, Current Account, NAHB Housing Market Index, Crude Oil Inventories, FOMC Economic Projections, FOMC Statement, Federal Funds Rate.

AGRI COMMODITY
BULLION COMMODITY
CS CHANA (OCTOBER)) OVERVIEW:
TREND CONSOLIDATE
SUP1:2830
SUP2:2780
RESIST1:2890
RESIST2:2950
TRADING STRATEGY: BUY ON DIPS
CS COPPER (NOVEMBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:425
SUP2:422
RESIST1:435
RESIST2:440
TRADING STRATEGY: BUY ON DIPS
CS JEERA (OCTOBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:10675
SUP2:10530
RESIST1:10940
RESIST2:11100
TRADING STRATEGY: SELL ON RISE
CS CRUDE (SEPTEMBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:5740
SUP2:5650
RESIST1:5840
RESIST2:5930
TRADING STRATEGY: BUY ON DIPS
CS TURMERIC (OCTOBER) OVERVIEW:
TREND BEARISH
SUP1:5980
SUP2:5850
RESIST1:6170
RESIST2:6370
TRADING STRATEGY: SELL ON RISE
CS GOLD (OCTOBER) OVERVIEW:
TREND BEARISH
SUP1:26900
SUP2:26700
RESIST1:27120
RESIST2:27430
TRADING STRATEGY: SELL ON RISE
CS SOYABEAN (OCTOBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:3240
SUP2:3140
RESIST1:3370
RESIST2:3480
TRADING STRATEGY: BUY ON DIPS
CS SILVER (DECEMBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:40950
SUP2:40500
RESIST1:41800
RESIST2:42280
TRADING STRATEGY: SELL ON RISE
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