DAILY COMMODITY MARKET STRATEGY-17 Oct 2014

Commodity Tips
BASE METAL WRAP: Nickel climbed for the first time in four days, paring a sixth weekly decline, as some investors deemed this week’s drop to a seven-month low as excessive amid signs of an improving U.S. economy.

ENERGY WRAP: West Texas Intermediate crude rallied for a second day after trading below $80 a barrel for the first time since June 2012. Brent advanced in London.

PRECIOUS METAL WRAP: Gold traded below a five-week high, headed for the first back-to-back weekly increase since July, amid speculation signs of a global slowdown led by Europe may delay the onset of higher U.S. borrowing costs. Palladium rose.

GLOBAL EVENTS TO WATCH: Core CPI m/m, Building Permits, Fed Chair Yellen Speaks, Housing Starts, Prelim UoM Consumer Sentiment, Prelim UoM Inflation Expectations.

AGRI COMMODITY
BULLION COMMODITY
CS CHANA (NOVEMBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:2870
SUP2:2840
RESIST1:2950
RESIST2:2970
TRADING STRATEGY: BUY ON DIPS
CS COPPER (NOVEMBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:405
SUP2:402
RESIST1:412
RESIST2:417
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
SUP1:5010
SUP2:4945
RESIST1:5240
RESIST2:5300
TRADING STRATEGY: SELL ON RISE
CS TURMERIC (NOVEMBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:6100
SUP2:6040
RESIST1:6320
RESIST2:6500
TRADING STRATEGY: SELL ON RISE
CS GOLD (DECEMBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:27150
SUP2:26840
RESIST1:27620
RESIST2:27810
TRADING STRATEGY: SELL ON RISE
CS SOYABEAN (NOVEMBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:2925
SUP2:2900
RESIST1:3115
RESIST2:3172
TRADING STRATEGY: BUY ON DIPS
CS SILVER (DECEMBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:38580
SUP2:38050
RESIST1:39200
RESIST2:39630
TRADING STRATEGY: SELL ON RISE
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