DAILY COMMODITY MARKET STRATEGY-3 Oct 2014

Commodity Tips
BASE METAL WRAP: Nickel climbed for the first time in seven days, leading industrial metals higher, on speculation recent losses were excessive and before payroll data from the U.S., the second-biggest consumer.

ENERGY WRAP: Brent crude traded on the brink of a bear market on speculation that Saudi Arabia will maintain output even as supplies from the U.S. and Russia increase and demand slows.

PRECIOUS METAL WRAP: Gold declined in London, with the metal almost erasing this year’s gains as the outlook for higher U.S. interest rates amid an improving economy curbs demand for the metal. Platinum dropped to a five-year low.

GLOBAL EVENTS TO WATCH: Non-Manufacturing PMI, Services PMI, Trade Balance, Non-Farm Employment Change, Trade Balance, Unemployment Rate, Average Hourly Earnings m/m, Final Services PMI, ISM Non-Manufacturing PMI.
BULLION COMMODITY
CS COPPER (NOVEMBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:412
SUP2:407
RESIST1:422
RESIST2:427
TRADING STRATEGY: SELL ON RISE
CS CRUDE (OCTOBER) OVERVIEW:
TREND BEARISH
SUP1:5650
SUP2:5520
RESIST1:5755
RESIST2:5885
TRADING STRATEGY: SELL ON RISE
CS GOLD (DECEMBER) OVERVIEW:
TREND BEARISH
SUP1:26750
SUP2:26450
RESIST1:27180
RESIST2:27320
TRADING STRATEGY: SELL ON RISE
CS SILVER (DECEMBER) OVERVIEW:
TREND BEARISH
SUP1:37400
SUP2:35580
RESIST1:39200
RESIST2:39630
TRADING STRATEGY: SELL ON RISE
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