MCX Crude Oil March 2017 April: Expect Higher Range To Be Tested

Report for Date: 10/04/2017

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

Expect higher range of 3416-3547 to be tested.

Weakness can resume below 3268.

Traders can buy above 3399 with low of the day stop loss or 3359 whichever is lower.

Weaker opening and correction first to 3342-3285 can be used for buying with a stop loss of 3268.

Sell is below 3268 with high of the week as the stop loss.

Strong directional movement may not be witnessed as Bandwidth is falling.

The movement could be restricted to the upper range.

TREND INFORMATION WITH WEEKLY LEVELS

STRATEGY	CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
Hold Long	3359.00	3319.40	UP	3359.00	7.04	3154	3285	3342	3416	3547

*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
3359.0	2.3	62791100	-3.0	12201	-7.4	Positive	Unwinding

TECHINCAL INDICATORS TABLE

RSI	1-ROC-RSI	Stochastic	1-ROC- Stochastic	MACD	1-ROC MACD	RS	1-ROC RS
50.04	6.66	31.53	64.97	20.16	-16.63	44.04	10.46

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.