DAILY COMMODITY MARKET STRATEGY-2 Sep 2014

BASE METAL WRAP: Aluminium led most industrial metals higher as worse-than-expected manufacturing data in China and the euro area increased speculation of more economic stimulus. Copper fell in London on signs that factory demand will slow in China, the world’s largest consumer of the industrial metal.

ENERGY WRAP: West Texas Intermediate crude fell amid speculation that weakening manufacturing from Germany to China will cap demand for oil. Brent was steady in London.

PRECIOUS METAL WRAP: Gold extended a declined from a one-week high, retreating for a third day, as investors weighed the health of the global economy against tension between Ukraine and Russia.

GLOBAL EVENTS TO WATCH: Building Approvals m/m(AUD), Cash Rate(AUD), RBA Rate Statement(AUD), Construction PMI(GBP), Final Manufacturing PMI(USD), ISM Manufacturing PMI(USD), Construction Spending m/m(USD), IBD/TIPP Economic Optimism(USD), ISM Manufacturing Prices(USD).
AGRI COMMODITY
BULLION COMMODITY
CS CHANA (SEPTEMBER)) OVERVIEW:
TREND CONSOLIDATE
SUP1:2802
SUP2:2760
RESIST1:2870
RESIST2:2940
TRADING STRATEGY: BUY ON DIPS
CS COPPER (NOVEMBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:424
SUP2:420
RESIST1:434
RESIST2:438
TRADING STRATEGY: SELL ON RISE
CS JEERA (SEPTEMBER) OVERVIEW:
TREND BEARISH
SUP1:10970
SUP2:10750
RESIST1:11230
RESIST2:11460
TRADING STRATEGY: SELL ON RISE
CS CRUDE (SEPTEMBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:5770
SUP2:5720
RESIST1:5905
RESIST2:6020
TRADING STRATEGY: SELL ON RISE
CS TURMERIC (SEPTEMBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:6300
SUP2:6100
RESIST1:6670
RESIST2:6750
TRADING STRATEGY: SELL ON RISE
CS GOLD (OCTOBER) OVERVIEW:
TREND BEARISH
SUP1:27680
SUP2:27420
RESIST1:28040
RESIST2:28180
TRADING STRATEGY: SELL ON RISE
CS SOYABEAN (OCTOBER) OVERVIEW:
TREND BEARISH
SUP1:3250
SUP2:3140
RESIST1:3370
RESIST2:3490
TRADING STRATEGY: SELL ON RISE
CS SILVER (SEPTEMBER) OVERVIEW:
TREND BEARISH
SUP1:41700
SUP2:40500
RESIST1:42570
RESIST2:43000
TRADING STRATEGY: SELL ON RISE
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