MCX Crude Oil January 2017 Weekly: Higher Range Is To Exit Long

Report for Date: 09/01/2017

MCX Crude Oil January 2017 Weekly: Higher Range Is To Exit Long

(Price figures below are in Rs/INR per Kg)

Traders long and holding the same can maintain the stop loss at 3550.

Traders can buy above 3780 with low of the week as the stop loss or 3550 whichever is lower.

Correction can resume on fall and close below 3550.

Supply zone is at 3723-3989.

Higher range and supply zone can be used to take profits or exit long position.

TREND INFORMATION WITH WEEKLY LEVELS

STRATEGY	CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
Hold Long	3682.00	3229.13	UP	3111.0	18.11	3335	3563	3671	3791	4019

*Trend will remain Down as long as last close is below the pink color DRV. Trend will be Up as long as Price is above DRV is lower.

PRICE, VOLUME AND OPEN INTEREST STRATEGY

Last Close	Price G/L%	Volume	V -G/L%	Open Interest	OI -G/L %	Candle	Position
3682.0	0.9	52280400	63.1	8855	18.1	Indecisive	Unwinding

TECHINCAL INDICATORS TABLE

RSI	1-ROC-RSI	Stochastic	1-ROC- Stochastic	MACD	1-ROC MACD	RS	1-ROC RS
64.97	1.16	85.49	-0.75	151.30	9.54	76.69	3.51

Disclaimer: There is risk of loss in trading in derivatives and the report is not to be construed as investment advice. The information provided in this report is intended solely for informative purposes. The author, directors and other employees of CC Commodity Info Services cannot be held responsible for the accuracy of the information presented herein or for the results of the positions taken based on the opinions expressed above.