Technical : Barley Jaipur Spot : Expect Correction To Continue With Volatility 16 Jan 2018 3:39 pm   0 Comments  |   Post Comment  |  Font Size A A A  Dated 16/01/2018 Technical : Barley Jaipur Spot : Expect Correction To Continue With Volatility Barely Jaipur- Last Close- : Last Close 1494 The averages are in bear market structure as 55 VA is below 89 VA. The 55 VA and 89 VA are placed at 1510 and 1526. Up Trend can resume above 1531 but bull market structure can resume only when 55VA is above 89 VA. Wave b is in progress and may extend higher if sustains above 1532. Failure to sustain above 1532 in next few days can lead to a slide for beginning of Wave c. On rise and close above 1532 on sustained basis in near term can lead to a rise towards 1572-1625-1675 which are retracement level of the fall. Expect resistance at current level to 1532 and profit booking pressure can be seen from traders create long position at lower level. Exit long can be first objective and trading long can be done only on sustained rise and close above 1532. Correction to 1479-1472-1422 cannot be ruled out if prices fail to sustain above 1532 in near term. Conclusion Resistance at current level as bear market pullback is being witnessed. Up trend resume above 1532 for bear market pullback till bull market structure is not in place.   Rate this story Rated 0.0    Post comment Comment : Note : This forum is moderated. We reserve the right to not publish and/or edit the comment on the site, if the comment is offensive, contains inappropriate data or violates our editorial policy. Name :   Email :       Post Comment		Latest Special Reports Jaipur Mustard Seed Signs of a Bullish Reversal / Next... US soybean net sales for May 3-9 at 265,700 MT, down 38... Rajkot Groundnut Oil Loose Counter-trend Rally / Next ... Mustard Cake (Jaipur) Correction Underway / Next Suppo... Castor Oil (Kadi) Weak Price Trend / Next Support at R... more Top 5 News Weekly: ICE sugar futures under pressure as Brazilian p... Weekly: ICE cotton prices maintain weak stance amid slo... Jaipur Mustard Seed Signs of a Bullish Reversal / Next... Mumbai Pigeon Pea Tur (Lemon) Inflection Point: Retest... US soybean net sales for May 3-9 at 265,700 MT, down 38... Top 5 Market Commentary Mentha Oil Prices Continue to Decline Amid Weak Market ... Guar Seed and Gum Prices Remain Flat Domestic Pepper Prices Stable Amid Rising Vietnamese Ma... Clove Prices Remain Stable Amid Increased Supply and St... Small Cardamom Prices Continue to Decline Amid Drastic ...