DAILY COMMODITY MARKET STRATEGY-3 Nov 2014

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

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