Technical : Barley Jaipur Spot : Expect Correction To Continue With Volatility 16 Jan 2018 3:39 pm   0 Comments  |   Post Comment  |  Font Size A A A  Dated 16/01/2018 Technical : Barley Jaipur Spot : Expect Correction To Continue With Volatility Barely Jaipur- Last Close- : Last Close 1494 The averages are in bear market structure as 55 VA is below 89 VA. The 55 VA and 89 VA are placed at 1510 and 1526. Up Trend can resume above 1531 but bull market structure can resume only when 55VA is above 89 VA. Wave b is in progress and may extend higher if sustains above 1532. Failure to sustain above 1532 in next few days can lead to a slide for beginning of Wave c. On rise and close above 1532 on sustained basis in near term can lead to a rise towards 1572-1625-1675 which are retracement level of the fall. Expect resistance at current level to 1532 and profit booking pressure can be seen from traders create long position at lower level. Exit long can be first objective and trading long can be done only on sustained rise and close above 1532. Correction to 1479-1472-1422 cannot be ruled out if prices fail to sustain above 1532 in near term. Conclusion Resistance at current level as bear market pullback is being witnessed. Up trend resume above 1532 for bear market pullback till bull market structure is not in place.   Rate this story Rated 0.0    Post comment Comment : Note : This forum is moderated. We reserve the right to not publish and/or edit the comment on the site, if the comment is offensive, contains inappropriate data or violates our editorial policy. Name :   Email :       Post Comment		Latest Special Reports Mustard Oil (Jaipur) Trending Lower / Next Support at ... US soybean net sales for April 26-May 2 at 428,900 MT, ... RBD Palm Olein (Kandla) Positive Short-term Trend / Ne... Soybean Meal (Indore) Consolidating Near Short-term Su... Rice Bran Refined Oil (Ludhiana) Trading in a Range (R... more Top 5 News Mustard Oil (Jaipur) Trending Lower / Next Support at ... Mumbai Masur Canada Crimson Container Weak Price Trend... US cotton net export sales for April 26-May 2 at 253,70... US soybean net sales for April 26-May 2 at 428,900 MT, ... Mumbai Black Matpe (Urad) Trending Higher / Next Resis... Top 5 Market Commentary WHEAT NEWS DCE OIL COMPLEX EVENING CLOSING - 10 MAY 2024 ZCE COTTON AND YARN EVENING CLOSE 10 ,AY 2024 Wheat Prices Remain Steady Amid Declining Arrivals DCE Daily Rates Update ( Time: 20:19 ) - 10 MAY 2024