REPORT For Date 6/04/2019
Yuan per ton
Exit long and sell on rise from 15238 or above as the opportunity arises with a stop loss of 15400.
Resistance will be at 15238-15400.
Weakness is below 14950.
Support will be at 15063-14950.
Basically, it is sideways movement being witnessed on alternate week basis with change in price direction for any directional movement.
Ideally, avoid trading as directional movement of any magnitude not witnessed for any sideway directional gains.
TREND INFORMATION WITH INTRA-DAY LEVELS
CLOSE
|
WRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
15165.0
|
15383.4
|
DOWN
|
15280.0
|
1.03
|
14888
|
15063
|
15137
|
15238
|
15413
|
*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
|
15165.0
|
0.7
|
450370.0
|
-46.6
|
326784.0
|
-8.8
|
Positive
|
Unwinding
|
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.