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MCX Crude Palm Oil Weekly March: Expect Higher Range To Be Tested

12 Mar 2018 9:47 am
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Report For Date: 12/03/2018

MCX Crude Palm Oil Weekly March: Expect Higher Range To Be Tested

MCX Crude Palm Oil: (Price are in INR (Rs)/10 kg)

Hold long position if any with a stop loss of 649.

Resistance will be at 649-667.

Higher range from 640-649-667 can be used to exit long position.


TREND INFORMATION WITH WEEKLY LEVELS

STRATEGY

CLOSE

DRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

-

640.50

574.68

UP

276.0

4786.00

613

631

640

649

667

*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. Positional Traders: If trend is up then traders long can hold long position with closing stop loss of DRV: Close >DRV. If trend is down then traders can hold short position with a closing stop loss of DRV: Close <DRV.

PRICE, VOLUME AND OPEN INTEREST STRATEGY

Last Close

Price G/L%

Volume

% V Inc/Dec

Open Interest

% OI Inc/Dec

Candle

Position

640.5

3.3

149430000

276.0

4786

-24.4

Indecisive

Unwinding

TECHNICAL INDICATORS TABLE

RSI

1-ROC-RSI

Stochastic

1-ROC-

Stochastic

MACD

1-ROC

MACD

RS

1-ROC

RS

75.63

5.09

94.76

-1.62

17.94

27.82

82.63

5.73


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.


       
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