DAILY COMMODITY MARKET STRATEGY-25 Aug 2014
BASE METAL WRAP: Copper in Shanghai swung between gains and losses near the highest in almost four weeks after stockpiles fell the most since May and before housing data in the U.S., the second-biggest consumer of industrial metals.
ENERGY WRAP: Brent fell for a second day amid speculation that Middle East crude supplies will remain safe amid turmoil across the region. West Texas Intermediate was steady after a technical issue disrupted electronic trading.
PRECIOUS METAL WRAP: Investors are exiting the gold market on speculation that signs of sustained U.S. economic growth will push the Federal Reserve closer to raising interest rates, cutting demand for bullion as an inflation hedge.
GLOBAL EVENTS TO WATCH: German Ifo Business Climate, Flash Services PMI, New Home Sales.
AGRI
COMMODITY
|
BULLION
COMMODITY
|
CS
CHANA (SEPTEMBER)) OVERVIEW:
TREND
CONSOLIDATE
SUP1:2870
SUP2:2830
RESIST1:2960
RESIST2:3020
TRADING
STRATEGY: SELL ON RISE |
CS
COPPER (AUG) OVERVIEW:
TREND
CONSOLIDATE
SUP1:425
SUP2:421
RESIST1:429
RESIST2:433
TRADING
STRATEGY: SELL ON RISE |
CS
JEERA (SEPTEMBER) OVERVIEW:
TREND
CONSOLIDATE
SUP1:11150
SUP2:10920
RESIST1:11450
RESIST2:11500
TRADING
STRATEGY: SELL ON RISE |
CS
CRUDE (SEPTEMBER) OVERVIEW:
TREND
BEARISH
SUP1:5640
SUP2:5550
RESIST1:5755
RESIST2:5800
TRADING
STRATEGY: SELL ON RISE |
CS
TURMERIC (SEPTEMBER) OVERVIEW:
TREND
BULLISH
SUP1:6500
SUP2:6330
RESIST1:6750
RESIST2:6800
TRADING
STRATEGY: BUY ON DIPS |
CS
GOLD (OCTOBER) OVERVIEW:
TREND
BEARISH
SUP1:27680
SUP2:27300
RESIST1:27880
RESIST2:27950
TRADING
STRATEGY: SELL ON RISE |
CS
SOYABEAN (OCTOBER) OVERVIEW:
TREND
BEARISH
SUP1:3348
SUP2:3260
RESIST1:3490
RESIST2:3550
TRADING
STRATEGY: SELL ON RISE |
CS
SILVER (SEPTEMBER) OVERVIEW:
TREND
CONSOLIDATE
SUP1:41700
SUP2:40500
RESIST1:42500
RESIST2:42800
TRADING
STRATEGY: SELL ON RISE |
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