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Sunday, August 17, 2014

DAILY COMMODITY MARKET STRATEGY-18 Aug 2014

BASE METAL WRAP: COPPER futures were up on the London Metal Exchange Friday, rebounding from the previous session's slump amid renewed hopes that central banks will step in to boost economic growth.

ENERGY WRAP: Brent crude fell amid speculation that threats to Middle East oil supplies are easing. West Texas Intermediate declined in New York. Refinery breakdowns from Kansas to Texas are giving gasoline a boost, spurring speculators to increase bullish bets for the first time in six weeks as the Labor Day holiday approaches.

PRECIOUS METAL WRAP: Gold decreased for a second day as the outlook for an improving U.S. economy outweighed tension in Ukraine. Silver fell to a two-month low, while palladium retreated from the highest level in more than 13 years.

GLOBAL EVENTS TO WATCH: Foreign Direct Investment ytd/y, NAHB Housing Market Index.
AGRI COMMODITY
BULLION COMMODITY
CS CHANA (SEPTEMBER)) OVERVIEW:
TREND CONSOLIDATE
SUP1:2835
SUP2:2740
RESIST1:2980
RESIST2:3020
TRADING STRATEGY: SELL ON RISE
CS COPPER (AUG) OVERVIEW:
TREND BEARISH
SUP1:416
SUP2:412
RESIST1:425
RESIST2:431
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 BEARISH
SUP1:5820
SUP2:5740
RESIST1:5930
RESIST2:5960
TRADING STRATEGY: SELL ON RISE
CS TURMERIC (SEPTEMBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:6450
SUP2:6310
RESIST1:6670
RESIST2:6780
TRADING STRATEGY: BUY ON DIPS
CS GOLD (OCTOBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:28250
SUP2:28100
RESIST1:28525
RESIST2:28740
TRADING STRATEGY: SELL ON RISE
CS SOYABEAN (OCTOBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:3480
SUP2:3400
RESIST1:3700
RESIST2:3750
TRADING STRATEGY: SELL ON RISE
CS SILVER (SEPTEMBER) OVERVIEW:
TREND BEARISH
SUP1:42500
SUP2:41760
RESIST1:43500
RESIST2:44050
TRADING STRATEGY: SELL ON RISE
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