Tuesday, 26 November 2013

COMMODITY MARKET STRATEGY 27 NOVEMBER 2013

BASE METAL WRAP:
Copper swung between gains and losses as investors weighed indications of strong demand against consensus of increasing supplies next year.
ENERGY WRAP:
West Texas Intermediate fell for a fourth day after industry data showed crude stockpiles rose for a ninth week in the U.S., the world’s biggest oil consumer.
PRECIOUS METAL WRAP:
Gold traded little changed on speculation that prices near a four-month low may lure buyers and as investors assessed the timing of a reduction in stimulus by the Federal Reserve.
GLOBAL EVENTS TO WATCH:
Second Estimate GDP q/q, Core Durable Goods Orders m/m, Unemployment Claims, Durable Goods Orders m/m, Chicago PMI, Revised UoM Consumer Sentiment, Revised UoM Inflation Expectations, CB Leading Index m/m, Crude Oil Inventories, Natural Gas Storage.


Commodity market
---------------------------
CS COPPER (NOV.) OVERVIEW:
TREND CONSOLIDATE
SUP1:438
SUP2:436
RESIST1:447
RESIST2:451
TRADING STRATEGY: SELL ON RISE
-----------------------------
CS CRUDE (DEC.) OVERVIEW:
TREND BEARISH
SUP1:5797
SUP2:5752
RESIST1:5955
RESIST2:6063
TRADING STRATEGY: SELL ON RISE
-----------------------------
CS GOLD (DEC.) OVERVIEW:
TREND CONSOLIDATE
SUP1:29480
SUP2:29275
RESIST1:30500
RESIST2:30840
TRADING STRATEGY: SELL ON RISE
-----------------------------
CS SILVER (DEC.) OVERVIEW:
TREND CONSOLIDATE
SUP1:43925
SUP2:42600  
RESIST1:45340
RESIST2:45950
TRADING STRATEGY: SELL ON RISE
Agri Market
--------------------------
CS CHANA (DEC.) OVERVIEW:
TREND CONSOLIDATE
SUP1:3055
SUP2:3009
RESIST1:3087  
RESIST2:3140
TRADING STRATEGY: SELL ON RISE
------------------------------
CS JEERA (DEC.) OVERVIEW:
TREND CONSOLIDATE
SUP1:12500
SUP2:12300
RESIST1:12930
RESIST2:13000
TRADING STRATEGY: BUY ON DIPS
------------------------------
CS TURMERIC (DEC.) OVERVIEW:
TREND CONSOLIDATE
SUP1:5044
SUP2:4946
RESIST1:5420
RESIST2:5500
TRADING STRATEGY: BUY ON DIPS
------------------------------
CS SOYABEAN (DEC.) OVERVIEW:
TREND CONSOLIDATE
SUP1:3800
SUP2:3740
RESIST1:3950
RESIST2:3990
TRADING STRATEGY: BUY ON DIPS

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