Monday 30 December 2013

COMMODITY MARKET TREND - 31 DECEMBER 2013

BASE METAL WRAP: 
Copper rose to a four-month high as fewer Americans than forecast filed applications for unemployment benefits and as China maintained its growth trajectory, adding to signs of recovery in the biggest users.
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ENERGY WRAP: 
West Texas Intermediate is poised for the fourth annual increase in five years amid speculation crude supplies shrank for a fifth week in the U.S., the world’s largest oil consumer. Natural gas is set for the biggest annual gain in eight years in New York amid speculation a cold start to 2014 in the U.S. may boost demand for the heating fuel.
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PRECIOUS METAL WRAP:  
Gold headed for the biggest slump in three decades and the first annual loss since 2000 as an improving economy cut demand for wealth protection. Silver was poised for the worst annual performance since 1981.
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GLOBAL EVENTS TO WATCH:
 
S&P/CS Composite-20 HPI y/y, Chicago PMI, CB Consumer Confidence.


Agri Commodity Market Update
CS CHANA ( JAN.) OVERVIEW:
TREND CONSOLIDATE
SUP1:2985
SUP2:2950
RESIST1:3172   
RESIST2:3194
TRADING STRATEGY: BUY ON DIPS

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CS JEERA (MARCH) OVERVIEW:
TREND BEARISH
SUP1:12370
SUP2:12270
RESIST1:12670
RESIST2:13000
TRADING STRATEGY: SELL ON RISE

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CS TURMERIC (APRIL) OVERVIEW:
TREND CONSOLIDATE
SUP1:6210
SUP2:6050
RESIST1:6490
RESIST2:6540
TRADING STRATEGY: BUY ON DIPS

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CS SOYABEAN (JAN.) OVERVIEW:
TREND CONSOLIDATE
SUP1:3700
SUP2:3662
RESIST1:3840
RESIST2:3920
TRADING STRATEGY: SELL ON RISE

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Bullion Commodity Market Update.
CS COPPER (FEB.) OVERVIEW:
TREND CONSOLIDATE
SUP1:462
SUP2:456
RESIST1:474
RESIST2:482
TRADING STRATEGY: BUY ON DIPS

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CS CRUDE (JAN.) OVERVIEW:
TREND CONSOLIDATE
SUP1:6130
SUP2:5970
RESIST1:6280
RESIST2:6350
TRADING STRATEGY: SELL ON RISE

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CS GOLD (FEB.) OVERVIEW:
TREND CONSOLIDATE
SUP1:27900
SUP2:27340
RESIST1:28700
RESIST2:28990
TRADING STRATEGY: SELL ON RISE

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CS SILVER (MARCH) OVERVIEW:
TREND CONSOLIDATE
SUP1:43560
SUP2:42400   
RESIST1:45230
RESIST2:45900
TRADING STRATEGY: SELL ON RISE

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