DAILY COMMODITY MARKET STRATEGY-30 Oct 2014

Commodity Tips
BASE METAL WRAP: Investors are pulling out of industrial-metals funds at the fastest pace in 15 months, signaling increased concern that a faltering global economy will slow demand for everything from cars to appliances.

ENERGY WRAP: West Texas Intermediate retreated from a one-week high after government data showed crude stockpiles rose as output surged to a record high in the U.S., the world’s biggest oil consumer. Brent slid in London.

PRECIOUS METAL WRAP: Gold traded near a three-week low as the dollar strengthened after the Federal Reserve ended its asset-purchase program. Holdings in the largest exchange-traded product extended declines to the lowest in six years.

GLOBAL EVENTS TO WATCH: Official Cash Rate, RBNZ Rate Statement, BOC Gov Poloz Speaks, German Prelim CPI m/m, Advance GDP q/q, Unemployment Claims, Advance GDP Price Index q/q, Fed Chair Yellen Speaks, Natural Gas Storage.
AGRI COMMODITY
BULLION COMMODITY
CS CHANA (NOVEMBER) OVERVIEW:
TREND BULLISH
SUP1:2970
SUP2:2895
RESIST1:3080
RESIST2:3142
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
SUP1:5028
SUP2:4950
RESIST1:5118
RESIST2:5202
TRADING STRATEGY: BUY ON DIPS
CS TURMERIC (NOVEMBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:6064
SUP2:5950
RESIST1:6280
RESIST2:6330
TRADING STRATEGY: SELL ON RISE
CS GOLD (DECEMBER) OVERVIEW:
TREND BEARISH
SUP1:26700
SUP2:26300
RESIST1:27090
RESIST2:27270
TRADING STRATEGY: SELL ON RISE
CS SOYABEAN (NOVEMBER) OVERVIEW:
TREND BULLISH
SUP1:3187
SUP2:3154
RESIST1:3335
RESIST2:3400
TRADING STRATEGY: BUY ON DIPS
CS SILVER (DECEMBER) OVERVIEW:
TREND BEARISH
SUP1:37000
SUP2:35580
RESIST1:37950
RESIST2:38500
TRADING STRATEGY: SELL ON RISE
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