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MCX Mentha Oil June: Further Weakness Is Below 1340

25 May 2019 2:56 pm
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Report For Date: 27/05/2019

MCX Mentha Oil (Price are in INR )


Cover short position at 1314 or below as the opportunity arises.

Expect higher range of 1331-1380 to be tested.

Weakness is below 1340.

CLOSE

WRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

1314.30

1456.10

DOWN

1568.0

22.03

1235.5

1283.7

1301.3

1331.9

1380.1


*Trend will remain Down as long as last close is below the pink color WRV-(Weekly Reversal Value). Trend will be Up as long as Price is above WRV. Positional Traders: If trend is up then traders long can hold long position with closing stop loss of WRV: Close >WRV. If trend is down then traders can hold short position with a closing stop loss of WRV: Close <WRV.

PRICE, VOLUME AND OPEN INTEREST STRATEGY

LAST CLOSE

PRICE G/L%

VOLUME

V -G/L%

OPEN INTEREST

OI -G/L %

CANDLE

POSITION

1314.3

3.8

493200.0

73.4

522.0

30.2

Positive

Addition Long


TECHNICAL INDICATORS TABLE

RSI

1-ROC-RSI

STOCHASTIC

1-ROC

STOCHASTIC

MACD

1-ROC

MACD

RS

1-ROC

RS

39.73

11.14

34.48

98.07

-76.06

-0.39

32.25

31.76






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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