DAILY COMMODITY MARKET STRATEGY-24 June 2014

BASE METAL WRAP: Copper dropped for the first time in eight days on signs of slowing demand in China, the biggest consumer, amid a probe into possible fraud involving metals stockpiled at Qingdao Port.

ENERGY WRAP: Natural gas futures dropped to a four-week low in New York on speculation that a spell of mild weather will cause bigger-than-average stockpile gains. Brent dropped for a third day and West Texas Intermediate declined amid speculation that Iraqi oil production wont be disrupted by escalating violence in OPEC’s second-largest producer.

PRECIOUS METAL WRAP: Gold prices dipped Tuesday in Asia on profit taking with a mix of geopolitical uncertainty over Iraq and continued easy policy offering support triggers.

GLOBAL EVENTS TO WATCH: German Ifo Business Climate, Inflation Report Hearings, FOMC Member Plosser Speaks, S&P/CS Composite-20 HPI y/y, HPI m/m, CB Consumer Confidence, New Home Sales, Richmond Manufacturing Index, Treasury Sec Lew Speaks.

AGRI COMMODITY	BULLION COMMODITY
CS CHANA (JULY) OVERVIEW: TREND CONSOLIDATE SUP1:2750 SUP2:2695 RESIST1:2876 RESIST2:2935 TRADING STRATEGY: SELL ON RISE	CS COPPER (JUNE) OVERVIEW: TREND CONSOLIDATE SUP1:415 SUP2:412 RESIST1:421 RESIST2:423 TRADING STRATEGY: BUY ON DIPS
CS JEERA (JULY) OVERVIEW: TREND BULLISH SUP1:11225 SUP2:11000 RESIST1:11450 RESIST2:11700 TRADING STRATEGY: BUY ON DIPS	CS CRUDE (JULY) OVERVIEW: TREND CONSOLIDATE SUP1:6340 SUP2:6310 RESIST1:6450 RESIST2:6500 TRADING STRATEGY: BUY ON DIPS
CS TURMERIC (JULY) OVERVIEW: TREND BULLISH SUP1:6580 SUP2:6470 RESIST1:6710 RESIST2:6870 TRADING STRATEGY: BUY ON DIPS	CS GOLD (AUG) OVERVIEW: TREND CONSOLIDATE SUP1:27400 SUP2:27100 RESIST1:27900 RESIST2:28300 TRADING STRATEGY: BUY ON DIPS
CS SOYABEAN (JULY) OVERVIEW: TREND BEARISH SUP1:3930 SUP2:3885 RESIST1:4050 RESIST2:4135 TRADING STRATEGY: SELL ON RISE	CS SILVER (JULY) OVERVIEW: TREND CONSOLIDATE SUP1:43840 SUP2:43000 RESIST1:45000 RESIST2:45700 TRADING STRATEGY: BUY ON DIPS