DAILY COMMODITY MARKET STRATEGY-19 Sep 2014

Commodity Tips
BASE METAL WRAP: Copper futures capped the biggest decline in more than a week on demand concerns amid signs that housing markets are sputtering in China and the U.S., the two biggest users.

ENERGY WRAP: Oil prices moved lower in U.S. trading on Thursday on expectations for the Federal Reserve to close stimulus programs next month and raise interest rates next year, which would open the door to a stronger dollar. Natural gas prices dropped on Thursday after data showed that U.S. stockpiles surpassed the five-year average last week.

PRECIOUS METAL WRAP: Gold headed for a third weekly decline after retreating to an eight-month low as the Federal Reserve raised its interest-rate forecasts, strengthening the dollar and damping demand for a store of value.

GLOBAL EVENTS TO WATCH: Core CPI m/m, Wholesale Sales m/m, CB Leading Index m/m.

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
SUP1:417
SUP2:412
RESIST1:426
RESIST2:432
TRADING STRATEGY: SELL ON RISE
CS JEERA (OCTOBER) OVERVIEW:
TREND BEARISH
SUP1:10675
SUP2:10530
RESIST1:10940
RESIST2:11100
TRADING STRATEGY: SELL ON RISE
CS CRUDE (OCTOBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:5600
SUP2:5500
RESIST1:5690
RESIST2:5750
TRADING STRATEGY: SELL ON RISE
CS TURMERIC (OCTOBER) OVERVIEW:
TREND BEARISH
SUP1:5850
SUP2:5706
RESIST1:6170
RESIST2:6370
TRADING STRATEGY: SELL ON RISE
CS GOLD (OCTOBER) OVERVIEW:
TREND BEARISH
SUP1:26500
SUP2:26290
RESIST1:27120
RESIST2:27430
TRADING STRATEGY: SELL ON RISE
CS SOYABEAN (OCTOBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:3140
SUP2:3100
RESIST1:3270
RESIST2:3370
TRADING STRATEGY: SELL ON RISE
CS SILVER (DECEMBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:40300
SUP2:39490
RESIST1:41200
RESIST2:41800
TRADING STRATEGY: SELL ON RISE

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