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MCX Crude Oil November 2018: Correction Continues

5 Nov 2018 9:57 am
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Report for Date: 29/10/2018



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



Exit long on rise to 4716-4872 and sell with a stop loss of 4980.

Lower range can be 4452-403.

Traders long and holding the same can maintain the stop loss of 4525 but look for rise to 4716-4872 to exit long.

Retracement levels of the rise from 2732 to 5669 are at 4525, 4186 and 3850.

Correction and down move can get deeper below 4525 closing.


TREND INFORMATION WITH WEEKLY LEVELS

CLOSE

WRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

4609.00

4782.68

DOWN

4609.0

2.11

4032

4452

4716

4872

5292


*Trend will remain Down as long as last close is below the pink color WRV. Trend will be Up as long as Price is above WRV is lower.

PRICE, VOLUME AND OPEN INTEREST STRATEGY

Last Close

Price G/L%

Volume

V -G/L%

Open Interest

OI -G/L %

Candle

Position

4609.0

-6.9

70426496.0

6.1

14901.0

79.1

Negative

Addition Short


TECHINCAL INDICATORS TABLE

RSI

1-ROC-RSI

Stochastic

1-ROC-

Stochastic

MACD

1-ROC

MACD

RS

1-ROC

RS

45.40

-15.41

10.16

-59.06

153.59

-23.40

28.47

-27.35










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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