Report For Date: 25/02/2019
MCX Crude Palm Oil Weekly February 2019: Exit Long On The Rise
MCX Crude Palm Oil: (Price are in INR (Rs)/10 kg)
Exit long on rise from 565-576 and can take contrarian sell position with a stop loss of 583.
Further rise is above 583.
Trader already long and holding the same can maintain the stop loss at 563 and use rise to resistance of 570 or above to exit long position.
Further rise is above 583 and till then traders long can use rise from 565 to 583 to exit long and take profits.
Correction towards WRV-557 is likely with volatility
TREND INFORMATION WITH WEEKLY LEVELS
|
CLOSE
|
WRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
565.4
|
557.3
|
UP
|
539.8
|
4.01
|
544
|
560
|
570
|
576
|
592
|
*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 (Weekly Reversal Value). Positional Traders: If trend is up then traders long can hold long position with closing stop loss of WRV: Close >WRV=Up Trend. If trend is down then traders can hold short position with a closing stop loss of WRV: Close <WRV=Down Trend.
PRICE, VOLUME AND OPEN INTEREST STRATEGY
|
Last Close
|
Price G/L%
|
Volume
|
% V Inc/Dec
|
Open Interest
|
% OI Inc/Dec
|
Candle
|
Position
|
|
565.4
|
-0.5
|
51130000.0
|
43.5
|
5361.0
|
53.7
|
Negative
|
Addition Short
|
TECHNICAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
51.48
|
-2.07
|
65.25
|
-23.09
|
-4.48
|
21.39
|
61.47
|
1.70
|
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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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