REPORT For Date 21/01/2019
Yuan per ton
Open interest increased with the rise and positive candle which indicates addition of long position.
Lower shadow has been witnessed suggesting support and recovery from the low of 14980.
Weakness is below 14980.
Cover short position at 15270 or below.
Expect higher range of 15403-15748 to be tested.
Breakout and close above 15525 can set a near term rally towards 15926-16127.
TREND INFORMATION WITH INTRA-DAY LEVELS
|
CLOSE
|
WRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
15270.0
|
15427.4
|
DOWN
|
N/A
|
N/A
|
14713
|
15058
|
15192
|
15403
|
15748
|
*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
|
|
15270.0
|
0.7
|
844264.0
|
27.6
|
413924.0
|
9.3
|
Positive
|
Addition Long
|
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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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