MCX Crude Oil July 2017 : Expect Lower Range To Be Tested

Report for Date: 27/06/2017

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

Traders short and holding the same can maintain the stop loss at 2900.

Exit long and sell on rise from 2777-2874 with a stop loss of 2900.

Lower range for the week can be 2706-2538.

The last bottom is at 2631.

The demand zone attached with last bottom is 2820-2631.

Therefore, lower range can attract support.

Downside momentum can continue on fall and close below 2631.

Pullback reversal can resume on rise and close above 2900.

TREND INFORMATION WITH WEEKLY LEVELS

STRATEGY	CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
Hold Short	2777.00	3176.33	DOWN	3213.00	26.05	2538	2706	2803	2874	3042

*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
2777.0	-3.5	73270000	6.0	26095	32.7	Negative	Addition Short

TECHINCAL INDICATORS TABLE

RSI	1-ROC-RSI	Stochastic	1-ROC- Stochastic	MACD	1-ROC MACD	RS	1-ROC RS
34.88	-6.91	7.14	-65.59	-105.69	-24.11	32.45	-5.61

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.