MCX Crude Palm Oil: Near Term Rise Is Above 462 Closing

Report For Week Dated: 18/05/2015

MCX Crude Palm Oil (Price are in INR (Rs)/10 kg)

Cover short position at 450.7 or below as the opportunity arises.

Resistance will be at 453-462.

Expect lower range of 445-430 to be tested before making attempt to move higher.

Traders short and holding the same can keep the stop loss at 462.

Traders long need to maintain the stop loss at 447.

If CPO trades above the open and above 462 then buy with low of the week as the stop loss or 450 whichever is lower.

CPO movement are contracting lead to choppy movement and oscillation around the DRV.

This indicates the trend can be up or down but nature of movement is sideways.

The DRV is turning flat is another indication of sideways price volatility to be witnessed.

Importantly, the RS is lost in relation to agri market.

WEEKLY TREND INFORMATION WITH WEEKLY LEVELS

	CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
Cover Short	450.70	452	DOWN	459	6.03	430	445	453	459	474

*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 weekly closing stop loss of DRV: Close >DRV. If trend is down then traders can hold short position with a weekly 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
450.7	0.27	85970000	50.56	5607	31.25	Indecisive	Unwinding

TECHNICAL INDICATORS TABLE

RSI	1-ROC-RSI	Stochastic	1-ROC- Stochastic	MACD	1-ROC MACD	RS	1-ROC RS
49.28	1.20	66.13	-6.44	-5.27	14.10	20.29	-11.47

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.