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Technical: Spot Cotton Seed Oilcake Kadi : Minor Correction For Consolidation

10 Jan 2018 1:51 pm
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Dated 10/01/2018

Cotton Seed Oilcake
Kadi- Last Close- 1746- Minor Correction For Consolidation



Trend is up as breakout above the resistance of 1647 was witnessed in last fortnight.

Prices are above the averages indicating up trend but 55VA is still below 89 VA.

The 55 VA is above 89 VA.


Correction to averages can create support.

The averages are at 1675.

Conclusion
Minor correction to averages or below before up move. Upside momentum will be restore above 1894 closing.


       
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