MCX Crude Oil September 2017: Further Rise Is Above 3253

Report for Date: 21/08/2017

MCX Crude Oil September 2017: Further Rise Is Above 3253

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

Traders still long and holding the same can maintain the stop loss at 2961.

Resistance is at 3206-3253.

Cover short position at 3144-3065-2961.

Traders can buy if breakout and close above 3253 is witnessed with low of the week as the stop loss or 2961 whichever is lower.

Sideways volatility and oscillation around the DRV cannot be ruled out unless breakout and close above 3253 is witnessed.

TREND INFORMATION WITH WEEKLY LEVELS

STRATEGY	CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
Hold Short	3127.00	3149.91	DOWN	3149.0	4.08	2924	3065	3144	3206	3347

*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
3127.0	-0.7	85597496	2.8	12076	-2.4	Indecisive	Unwinding

TECHINCAL INDICATORS TABLE

RSI	1-ROC-RSI	Stochastic	1-ROC- Stochastic	MACD	1-ROC MACD	RS	1-ROC RS
49.73	-1.52	84.21	2.16	-59.67	14.66	49.25	-8.04

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.