BASE METAL WRAP: Copper fell for the second time in three days before July industrial production and retail sales data tomorrow from China, the world’s biggest consumer of industrial metals.
ENERGY WRAP: West Texas Intermediate crude slid after a three-day advance before the release of fuel-supply data in the U.S., the world’s biggest oil consumer. Brent also declined.
PRECIOUS METAL WRAP: Gold extended declines from the highest level in three weeks as ebbing tensions in the Middle East and Ukraine boosted global equities, damping demand for the metal as an alternative investment.
GLOBAL EVENTS TO WATCH: NAB Business Confidence, German ZEW Economic Sentiment, NFIB Small Business Index, JOLTS Job Openings, Federal Budget Balance.
AGRI COMMODITY
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BULLION COMMODITY
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| CS CHANA (SEPTEMBER)) OVERVIEW: TREND CONSOLIDATE SUP1:2900 SUP2:2845 RESIST1:2980 RESIST2:3020 TRADING STRATEGY: SELL ON RISE |
CS COPPER (AUG) OVERVIEW: TREND CONSOLIDATE SUP1:427 SUP2:425 RESIST1:435 RESIST2:440 TRADING STRATEGY: SELL ON RISE |
| CS JEERA (SEPTEMBER) OVERVIEW: TREND CONSOLIDATE SUP1:11160 SUP2:10920 RESIST1:11500 RESIST2:11570 TRADING STRATEGY: SELL ON RISE |
CS CRUDE (AUGUST) OVERVIEW: TREND CONSOLIDATE SUP1:5950 SUP2:5930 RESIST1:6085 RESIST2:6145 TRADING STRATEGY: SELL ON RISE |
| CS TURMERIC (SEPTEMBER) OVERVIEW: TREND CONSOLIDATE SUP1:6530 SUP2:6310 RESIST1:6770 RESIST2:6980 TRADING STRATEGY: SELL ON RISE |
CS GOLD (OCTOBER) OVERVIEW: TREND CONSOLIDATE SUP1:28500 SUP2:28320 RESIST1:28850 RESIST2:29185 TRADING STRATEGY: SELL ON RISE |
| CS SOYABEAN (OCTOBER) OVERVIEW: TREND CONSOLIDATE SUP1:3500 SUP2:3480 RESIST1:3597 RESIST2:3640 TRADING STRATEGY: SELL ON RISE |
CS SILVER (SEPTEMBER) OVERVIEW: TREND BEARISH SUP1:43200 SUP2:41760 RESIST1:44310 RESIST2:44800 TRADING STRATEGY: SELL ON RISE |
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