Report For Date: 23/07/2018
MCX Crude Palm Oil: (Price are in INR (Rs)/10 kg)
Correction is in progiress.
The retracement of the rise from 466 to 673 during the period June 2017 to May 2018 is placed at 594-571-545.
Stochastic is in oversold zone on weekly chart and may test the retracement of 594.
Resistance is at 612-621-627.
Traders short and holding the same can maintain the stop loss at 627.
Lower range for the week can be 601-589.
TREND INFORMATION WITH WEEKLY LEVELS
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
608.0
|
N/A
|
DOWN
|
N/A
|
N/A
|
589.7
|
601.7
|
607.3
|
613.7
|
625.7
|
*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
|
608.0
|
0.3
|
53520000.0
|
-18.1
|
5734.0
|
30.2
|
Indecisive
|
Addition Long/Short
|
TECHNICAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
44.01
|
1.98
|
9.20
|
-28.49
|
7.56
|
-26.55
|
15.10
|
-16.30
|
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.