Report For Date: 17/07/2017
MCX Crude Palm Oil: (Price are in INR (Rs)/10 kg)
Traders short and holding the same can maintain the stop loss at 494.
Resistance is at 485-493.
Further weakness is below 477.
Sell is below 477 with high of the week as the stop loss or 484 whichever is higher.
Pullback reversal can happen if close is above 494 with bullish candle.
Pullback in that case can be towards the DRV.
DRV slope is negative therefore even if it spike sustainability issues will crop up.
TREND INFORMATION WITH WEEKLY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Short
|
484.00
|
515.71
|
DOWN
|
559.0
|
17.02
|
460.0
|
476.4
|
485.1
|
492.8
|
509.2
|
*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
|
484.00
|
-0.5
|
91130000
|
12.5
|
4997
|
-9.3
|
Indecisive
|
Unwinding
|
TECHNICAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
34.31
|
-2.36
|
29.20
|
51.35
|
-15.10
|
-1.30
|
28.48
|
-16.76
|
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.