REPORT For Date 17/09/2018
Yuan per ton
Resistance is at 16693-16933.
Lower range can be 16453-16213.
The wider volatility range is 17555-16220.
Lower side of the band is 16220-16045.
Higher range can be used to exit long position if any and lower range can be used to cover short position.
Positional trades from directional movement angle should be avoided.
Traders short and holding the same can maintain the stop loss at 16720.
Traders can buy above 16720 with low of the week as the stop loss or 16560 whichever is lower.
TREND INFORMATION WITH INTRA-DAY LEVELS
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
16560.00
|
N/A
|
DOWN
|
N/A
|
N/A
|
16213
|
16453
|
16587
|
16693
|
16933
|
*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
|
|
16560.0
|
-0.2
|
847344.0
|
-32.5
|
447472.0
|
-1.4
|
Indecisive
|
Unwinding
|
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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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