REPORT For Date 27/08/2018
Yuan per ton
Hold short position with a stop loss of 16195.
Support cluster is at lower range of 15390-15135.
Lower range for the week can be 16495-15845.
Lower range can be used to cover short position.
Resistance will be at 17145-17555.
Breakout and close above 17555 in near term to short term can set a rally.
Overall the movement is likely to remains between 16045-17555.
TREND INFORMATION WITH INTRA-DAY LEVELS
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
16820
|
N/A
|
DOWN
|
N/A
|
N/A
|
15845
|
16495
|
16820
|
17145
|
17795
|
*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
|
|
16820.0
|
1.3
|
1610490.0
|
-16.0
|
450608.0
|
-0.8
|
Positive
|
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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