DAILY COMMODITY MARKET STRATEGY-29 Oct 2014

Commodity Tips
BASE METAL WRAP: Nickel advanced for a second day, heading for the biggest two-day advance in five months, on speculation that lower prices will boost consumer buying and reduce production of a lower-grade alternative.

ENERGY WRAP: West Texas Intermediate crude rose for a second day as supply and economic data prompted speculation that fuel demand will increase in the U.S., the world’s biggest oil consumer. Brent gained in London.

PRECIOUS METAL WRAP: Gold held above a two-week low as investors assessed the health of the U.S. economy before the Federal Reserve concludes a policy meeting. Russia joined Turkey in adding bullion to reserves as assets in the largest exchange-traded product sank to the lowest in six years.

GLOBAL EVENTS TO WATCH: Crude Oil Inventories, FOMC Statement, Federal Funds Rate.
AGRI COMMODITY
BULLION COMMODITY
CS CHANA (NOVEMBER) OVERVIEW:
TREND BULLISH
SUP1:2970
SUP2:2895
RESIST1:2916
RESIST2:3080
TRADING STRATEGY: BUY ON DIPS
CS COPPER (NOVEMBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:415
SUP2:411
RESIST1:424
RESIST2:430
TRADING STRATEGY: SELL ON RISE
CS JEERA (NOVEMBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:11215
SUP2:11040
RESIST1:11550
RESIST2:11720
TRADING STRATEGY: SELL ON RISE
CS CRUDE (OCTOBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:4950
SUP2:4900
RESIST1:5118
RESIST2:5202
TRADING STRATEGY: BUY ON DIPS
CS TURMERIC (NOVEMBER) OVERVIEW:
TREND BEARISH
SUP1:5950
SUP2:5850
RESIST1:6160
RESIST2:6280
TRADING STRATEGY: SELL ON RISE
CS GOLD (DECEMBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:27090
SUP2:26840
RESIST1:27270
RESIST2:27640
TRADING STRATEGY: SELL ON RISE
CS SOYABEAN (NOVEMBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:3154
SUP2:3090
RESIST1:3265
RESIST2:3335
TRADING STRATEGY: BUY ON DIPS
CS SILVER (DECEMBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:37800
SUP2:37000
RESIST1:38470
RESIST2:39200
TRADING STRATEGY: SELL ON RISE
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