DAILY COMMODITY MARKET STRATEGY-9 May 2014

BASE METAL WRAP: Nickel rallied to a two-year high, exceeding $20,000, as a plant closure in New Caledonia by Vale (VALE5) SA, the second-biggest producer, fueled global supply concerns already exacerbated by Indonesia’s ore-export ban.

ENERGY WRAP: West Texas Intermediate headed for its first weekly advance since April as crude stockpiles shrank for the first time in more than a month in the U.S., the world’s biggest oil consumer. Brent was steady in London. Natural gas futures fell the most in 10 weeks after a government report showed a bigger-than-forecast U.S. inventory increase.

PRECIOUS METAL WRAP: Gold futures declined for a third straight day as gains in equities curb demand for the precious metal as an alternative investment.

GLOBAL EVENTS TO WATCH: RBA Monetary Policy Statement, CPI y/y, Manufacturing Production m/m, Employment Change, Unemployment Rate, JOLTS Job Openings, Wholesale Inventories m/m.

AGRI COMMODITY	BULLION COMMODITY
CS CHANA (JUNE) OVERVIEW: TREND BEARISH SUP1:2995 SUP2:2950 RESIST1:3115 RESIST2:3200 TRADING STRATEGY: SELL ON RISE	CS COPPER (JUNE) OVERVIEW: TREND CONSOLIDATE SUP1: 407 SUP2:404 RESIST1:414 RESIST2:423 TRADING STRATEGY: SELL ON RISE
CS JEERA (JUNE) OVERVIEW: TREND CONSOLIDATE SUP1:10500 SUP2:10280 RESIST1:11260 RESIST2:11500 TRADING STRATEGY: BUY ON DIPS	CS CRUDE (MAY) OVERVIEW: TREND CONSOLIDATE SUP1:5930 SUP2:5825 RESIST1:6140 RESIST2:6205 TRADING STRATEGY: BUY ON DIPS
CS TURMERIC (JUNE) OVERVIEW: TREND CONSOLIDATE SUP1:6600 SUP2:6470 RESIST1:6960 RESIST2:7270 TRADING STRATEGY: BUY ON DIPS	CS GOLD (JUNE) OVERVIEW: TREND CONSOLIDATE SUP1:28200 SUP2:28000 RESIST1:28850 RESIST2:29100 TRADING STRATEGY: SELL ON RISE
CS SOYABEAN (JUNE) OVERVIEW: TREND CONSOLIDATE SUP1:4640 SUP2:4505 RESIST1:4820 RESIST2:4870 TRADING STRATEGY: BUY ON DIPS	CS SILVER (JULY) OVERVIEW: TREND CONSOLIDATE SUP1:41500 SUP2:40500 RESIST1:43000 RESIST2:43840 TRADING STRATEGY: SELL ON RISE