MCX Crude Oil March 2017 Weekly: Expect Higher Range To Be Tested

Report for Date: 20/02/2017

MCX Crude Oil March 2017 Weekly: Expect Higher Range To Be Tested

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

Traders long and holding the same can maintain the stop loss at 3513.

Higher range for the week can be 3658-3735.

Correction can continue on fall and close below 3513.

Rise to 3750-3852 can be used to take profits or exit long position.

TREND INFORMATION WITH WEEKLY LEVELS

STRATEGY	CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
Hold Long	3624.0	3437.4	UP	3143.0	18.11	3504	3581	3616	3658	3735

*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
3624.0	-0.7	2811200	64.4	3455	111.3	Indecisive	Addition long/Short

TECHINCAL INDICATORS TABLE

RSI	1-ROC-RSI	Stochastic	1-ROC- Stochastic	MACD	1-ROC MACD	RS	1-ROC RS
58.52	-2.05	48.06	8.77	137.80	-5.35	65.93	-5.33

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.