Monday 23 December 2013

COMMODITY MARKET TREND - 24 DECEMBER 2013

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BASE METAL WRAP:
Copper advanced for a third day, trading near a seven-week high, after China’s central bank injected funds, helping ease surging financing costs.

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ENERGY WRAP:

West Texas Intermediate crude fell for a second day, trimming its first monthly advance since August, amid speculation that recent price increases may be unsustainable.

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PRECIOUS METAL WRAP:
Gold traded little changed below $1,200 an ounce as investor holdings retreated and U.S. equities climbed to a record amid signs of an improving economy.

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GLOBAL EVENTS TO WATCH:
Core Durable Goods Orders m/m, Durable Goods Orders m/m, HPI m/m, New Home Sales, Richmond Manufacturing Index.

Agri Commodity Market Update
CS CHANA ( JAN. ) OVERVIEW:
TREND CONSOLIDATE
SUP1:2950
SUP2:2875
RESIST1:3085  
RESIST2:3172
TRADING STRATEGY: BUY ON DIPS

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CS JEERA (MARCH) OVERVIEW:
TREND CONSOLIDATE
SUP1:12400
SUP2:12180
RESIST1:12760
RESIST2:12950
TRADING STRATEGY: SELL ON RISE

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CS TURMERIC (APRIL) OVERVIEW:
TREND CONSOLIDATE
SUP1:6040
SUP2:5980
RESIST1:6284
RESIST2:6340
TRADING STRATEGY: SELL ON RISE

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CS SOYABEAN (JAN.) OVERVIEW:
TREND CONSOLIDATE
SUP1:3800
SUP2:3720
RESIST1:3920
RESIST2:3950
TRADING STRATEGY: SELL ON RISE
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Bullion Commodity Market Update.
CS COPPER (FEB.) OVERVIEW:
TREND CONSOLIDATE
SUP1:454
SUP2:451
RESIST1:465
RESIST2:471
TRADING STRATEGY: BUY ON DIPS

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CS CRUDE (JAN.) OVERVIEW:
TREND CONSOLIDATE
SUP1:6100
SUP2:5970
RESIST1:6190
RESIST2:6250
TRADING STRATEGY: SELL ON RISE

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CS GOLD (FEB.) OVERVIEW:
TREND CONSOLIDATE
SUP1:28270
SUP2:27900
RESIST1:28650
RESIST2:28990
TRADING STRATEGY: SELL ON RISE

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CS SILVER (MARCH) OVERVIEW:
TREND CONSOLIDATE
SUP1:43100
SUP2:42400  
RESIST1:44285
RESIST2:44590
TRADING STRATEGY:  SELL ON RISE   
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