DAILY COMMODITY MARKET STRATEGY-3 Nov 2014

Commodity Tips
BASE METAL WRAP: Nickel fell for the first time in five days after data showed continued manufacturing weakness in China, damping the outlook for demand in the world’s largest metals consumer.

ENERGY WRAP: West Texas Intermediate fell for a third day, the longest losing streak in more than two weeks, as an official gauge from China showed factory output slowed in the world’s second-largest oil consumer. Brent slid in London.

PRECIOUS METAL WRAP: Gold traded within 40 cents of a four-year low after the Bank of Japan boosted stimulus and the Federal Reserve ended asset purchases, highlighting divergent central-bank policies and hurting bullion demand as the dollar climbed. Silver retreated to the lowest level since 2010.

GLOBAL EVENTS TO WATCH: Building Approvals m/m, Non-Manufacturing PMI, HSBC Final Manufacturing PMI, Manufacturing PMI, Final Manufacturing PMI, ISM Manufacturing PMI, Construction Spending m/m, ISM Manufacturing Prices, Total Vehicle Sales, BOC Gov Poloz Speaks.
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
SUP1:413
SUP2:409
RESIST1:418
RESIST2:424
TRADING STRATEGY: SELL ON RISE
CS JEERA (NOVEMBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:11200
SUP2:10970
RESIST1:11340
RESIST2:11550
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
SUP1:6170
SUP2:6064
RESIST1:6290
RESIST2:6540
TRADING STRATEGY: SELL ON RISE
CS GOLD (DECEMBER) OVERVIEW:
TREND BEARISH
SUP1:25750
SUP2:25300
RESIST1:26270
RESIST2:26610
TRADING STRATEGY: SELL ON RISE
CS SOYABEAN (NOVEMBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:3235
SUP2:3154
RESIST1:3335
RESIST2:3400
TRADING STRATEGY: SELL ON RISE
CS SILVER (DECEMBER) OVERVIEW:
TREND BEARISH
SUP1:35000
SUP2:34100
RESIST1:35630
RESIST2:36430
TRADING STRATEGY: SELL ON RISE
Get Free Share Market Tips, MCX Tips Free Trial, NCDEX Tips, Commodity Tips, Nifty Futures Tips with profitable calls and tips.
Commodity Tips

0 comments: