DAILY COMMODITY MARKET STRATEGY-16 Oct 2014

Commodity Tips
BASE METAL WRAP: Lead fell to the lowest price since May 2013 as signs of slowing economic growth from China to the U.S. point to weakening demand for industrial metals.

ENERGY WRAP: West Texas Intermediate extended its drop from the lowest price in more than two years amid speculation rising U.S. supplies are exacerbating a global glut that’s driven prices into a bear market. Brent fell in London.

PRECIOUS METAL WRAP: Gold traded near a five-week high as U.S. economic data that missed estimates added to signs a global slowdown may hurt the U.S. recovery, boosting demand for a haven as the dollar and equities dropped.

GLOBAL EVENTS TO WATCH: Foreign Direct Investment ytd/y, New Loans, M2 Money Supply y/y, FOMC Member Plosser Speaks, Manufacturing Sales m/m, Unemployment Claims, Industrial Production m/m, Capacity Utilization Rate, Philly Fed Manufacturing Index, FOMC Member Kocherlakota Speaks, NAHB Housing Market Index, Natural Gas Storage, Crude Oil Inventories.

AGRI COMMODITY
BULLION COMMODITY
CS CHANA (NOVEMBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:2870
SUP2:2840
RESIST1:2945
RESIST2:2970
TRADING STRATEGY: BUY ON DIPS
CS COPPER (NOVEMBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:409
SUP2:407
RESIST1:419
RESIST2:422
TRADING STRATEGY: SELL ON RISE
CS JEERA (NOVEMBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:10590
SUP2:10520
RESIST1:11110
RESIST2:11150
TRADING STRATEGY: BUY ON DIPS
CS CRUDE (OCTOBER) OVERVIEW:
TREND BEARISH
SUP1:4950
SUP2:4875
RESIST1:5100
RESIST2:5240
TRADING STRATEGY: SELL ON RISE
CS TURMERIC (NOVEMBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:6100
SUP2:6040
RESIST1:6320
RESIST2:6500
TRADING STRATEGY: BUY ON DIPS
CS GOLD (DECEMBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:27200
SUP2:26840
RESIST1:27620
RESIST2:27810
TRADING STRATEGY: BUY ON DIPS
CS SOYABEAN (NOVEMBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:2925
SUP2:2800
RESIST1:3004
RESIST2:3045
TRADING STRATEGY: SELL ON RISE
CS SILVER (DECEMBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:38300
SUP2:38050
RESIST1:39200
RESIST2:39630
TRADING STRATEGY: SELL ON RISE
Get Free Share Market Tips, MCX Tips Free Trial, NCDEX Tips, Commodity Tips, Nifty Futures Tips with profitable calls and tips.
Commodity Tips 

0 comments: