REPORT For Date 03/02/2019
Yuan per ton
Hold long position with a stop loss of 14950.
Oscillation around WRV-15409 is likely.
Resistance will be at 15373-15572.
Further rise is above 15665.
Support will be at 15082-14592.
Further weakness and next round of breakdown is below 14650.
The sideways volatility band for near term will remain at 14650-15665.
Contrarian strategy remains at accumulate at 15373-15082-14950 with a stop loss of 14650.
TREND INFORMATION WITH INTRA-DAY LEVELS
CLOSE
|
WRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
15280.00
|
15409.73
|
DOWN
|
15280.0
|
1.03
|
14592
|
15082
|
15373
|
15572
|
16062
|
*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
|
15280.0
|
-1.3
|
1478272.0
|
-7.8
|
442434.0
|
2.0
|
Negative
|
Addition Short
|
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.