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MCX Mentha Oil June: Trend Still Down

12 May 2018 12:03 pm
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Report For Date: 12/05/2018

MCX Mentha Oil (Price are in INR)

Trend is still down and resistance is likely to be witnessed at higher range.

Traders short and holding the same can maintain the stop loss at 1298.

Resistance will be at 1228-1298.

Expect lower range of 1163-1098.

STRATEGY

CLOSE

DRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

-

1188.0

1358.6

DOWN

1425

9.02

1098

1163

1202

1228

1293


*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 -G/L%

OPEN INTEREST

OI -G/L %

CANDLE

POSITION

1188.0

1.7

934200

40.1

641

11.5

Indecisive

Unwinding



TECHNICAL INDICATORS TABLE

RSI

1-ROC-RSI

STOCHASTIC

1-ROC

STOCHASTIC

MACD

1-ROC

MACD

RS

1-ROC

RS

40.57

3.74

30.25

1.31

-52.48

-9.05

40.32

2.06







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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