DAILY COMMODITY MARKET STRATEGY-31 Oct 2014

Commodity Tips
BASE METAL WRAP: Copper is poised for the first monthly advance since July before an official gauge of Chinese manufacturing growth and on speculation that planned strikes at mines in Indonesia and Peru may disrupt supplies.

ENERGY WRAP: West Texas Intermediate and Brent headed for the biggest monthly decline in more than two years amid signs that OPEC boosted output to a 14-month high even as crude slumped into a bear market.

PRECIOUS METAL WRAP: Gold headed for the first consecutive monthly loss in 2014 after erasing gains for the year as the Federal Reserve ended its asset-purchase program amid signs of an improving U.S. economy. Silver dropped to the lowest since February 2010.

GLOBAL EVENTS TO WATCH: PPI q/q, Monetary Policy Statement, BOJ Press Conference, CPI Flash Estimate y/y, GDP m/m, Core PCE Price Index m/m, Employment Cost Index q/q, Personal Spending m/m, Personal Income m/m, Chicago PMI, Revised UoM Consumer Sentiment, Revised UoM Inflation Expectations.
AGRI COMMODITY
BULLION COMMODITY
CS CHANA (NOVEMBER) OVERVIEW:
TREND BULLISH
SUP1:3090
SUP2:3020
RESIST1:3200
RESIST2:3247
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
SUP1:11285
SUP2:11215
RESIST1:11550
RESIST2:11720
TRADING STRATEGY: SELL ON RISE
CS CRUDE (OCTOBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:4900
SUP2:4850
RESIST1:5050
RESIST2:5118
TRADING STRATEGY: BUY ON DIPS
CS TURMERIC (NOVEMBER) OVERVIEW:
TREND BEARISH
SUP1:6064
SUP2:5950
RESIST1:6330
RESIST2:6540
TRADING STRATEGY: SELL ON RISE
CS GOLD (DECEMBER) OVERVIEW:
TREND BEARISH
SUP1:26300
SUP2:25490
RESIST1:26680
RESIST2:27090
TRADING STRATEGY: SELL ON RISE
CS SOYABEAN (NOVEMBER) OVERVIEW:
TREND BULLISH
SUP1:3240
SUP2:3154
RESIST1:3335
RESIST2:3400
TRADING STRATEGY: SELL ON RISE
CS SILVER (DECEMBER) OVERVIEW:
TREND BEARISH
SUP1:35580
SUP2:34100
RESIST1:36700
RESIST2:37700
TRADING STRATEGY: SELL ON RISE
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