DAILY COMMODITY MARKET STRATEGY-26 Sep 2014
BASE METAL WRAP: Copper rebounded from the lowest in 14 weeks before U.S. data that’s forecast to show faster growth in the world’s second-biggest metals user.
ENERGY WRAP: Brent crude headed for a third weekly loss this month amid speculation that plentiful oil supplies will buffer the market from unrest in the Middle East.
PRECIOUS METAL WRAP: Gold headed for the first weekly advance this month as a retreat in global equities and tensions in the Middle East boosted demand for a protection of wealth, countering expectations for higher U.S. borrowing costs.
GLOBAL EVENTS TO WATCH: CB Leading Index m/m, Final GDP q/q, Final GDP Price Index q/q, Revised UoM Consumer Sentiment, Revised UoM Inflation Expectations.
AGRI
COMMODITY
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BULLION
COMMODITY
|
CS
CHANA (OCTOBER)) OVERVIEW:
TREND
CONSOLIDATE
SUP1:2740
SUP2:2695
RESIST1:2830
RESIST2:2890
TRADING
STRATEGY: BUY ON DIPS |
CS
COPPER (NOVEMBER) OVERVIEW:
TREND
CONSOLIDATE
SUP1:412
SUP2:407
RESIST1:422
RESIST2:427
TRADING
STRATEGY: SELL ON RISE |
CS
JEERA (OCTOBER) OVERVIEW:
TREND
BEARISH
SUP1:10380
SUP2:10300
RESIST1:10705
RESIST2:10940
TRADING
STRATEGY: SELL ON RISE |
CS
CRUDE (OCTOBER) OVERVIEW:
TREND
CONSOLIDATE
SUP1:5585
SUP2:5550
RESIST1:5800
RESIST2:5890
TRADING
STRATEGY: SELL ON RISE |
CS
TURMERIC (OCTOBER) OVERVIEW:
TREND
CONSOLIDATE
SUP1:5950
SUP2:5850
RESIST1:6170
RESIST2:6250
TRADING
STRATEGY: SELL ON RISE |
CS
GOLD (OCTOBER) OVERVIEW:
TREND
BEARISH
SUP1:26290
SUP2:26000
RESIST1:27000
RESIST2:27120
TRADING
STRATEGY: SELL ON RISE |
CS
SOYABEAN (OCTOBER) OVERVIEW:
TREND
BEARISH
SUP1:3078
SUP2:3010
RESIST1:3170
RESIST2:3250
TRADING
STRATEGY: SELL ON RISE |
CS
SILVER (DECEMBER) OVERVIEW:
TREND
BEARISH
SUP1:38400
SUP2:37400
RESIST1:39900
RESIST2:40300
TRADING
STRATEGY: SELL ON RISE |
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Copper trading range for the day is 412.4-420.Copper ended with gains as support seen on lower levels due to rupee weakness despite of worries that weak global growth will curb demand as denoted by Epic research.
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