MCX Crude Oil May Weekly: Higher Range Is To Take Profits

Report for Date:02/05/2016

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

Traders long and holding the same can revise up the stop loss to 2850.

Expect higher range of 3149-3411 to be tested.

The lower top resistance cluster is at 3173-3303.

Traders long can take profits at 3173-3303 as the opportunity arises.

TREND INFORMATION WITH WEEKLY LEVELS

STRATEGY	CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
Hold Long	3035.00	2688.29	UP	2625.0	8.04	2625	2887	3001	3149	3411

*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 is lower.

PRICE, VOLUME AND OPEN INTEREST STRATEGY

Last Close	Price G/L%	Volume	V -G/L%	Open Interest	OI -G/L %	Candle	Position
3035.0	3.4	96941696	-3.7	18328	2.9	Positive	Addition Long

TECHINCAL INDICATORS TABLE

RSI	1-ROC-RSI	Stochastic	1-ROC- Stochastic	MACD	1-ROC MACD	RS	1-ROC RS
61.06	3.55	87.03	11.74	9.23	133.00	69.78	9.92

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.