Report for Date: 01/12/2016
MCX Crude Oil December: Expect Higher Range To Be Tested
MCX Crude Oil (Price figures below are in Rs/INR per Kg)
Cover short position as bullish candle has been witnessed.
The short stop loss has been crossed.
Cover short position at 3377 or below as the opportunity arises.
Weaker opening and correction first to 3298-3207 can be used for accumulation with a stop loss of 3093.
Expect higher range of 3467-3727 to be tested.
TREND INFORMATION WITH INTRA-DAY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Long
|
3377.0
|
3191.5
|
UP
|
3377.0
|
30.11
|
2947
|
3207
|
3298
|
3467
|
3727
|
*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 is lower.
PRICE, VOLUME AND OPEN INTEREST STRATEGY
Last Close
|
Price G/L%
|
Volume
|
V -G/L%
|
Open Interest
|
OI -G/L %
|
Candle
|
Position
|
3377.0
|
8.5
|
34402300
|
90.1
|
10867
|
-28.2
|
Positive
|
Unwinding
|
TECHINCAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
57.79
|
30.70
|
55.19
|
109.55
|
7.28
|
212.24
|
61.56
|
69.21
|
Note: Red Color Bar= Down Trend, Green Color Bars= Up Trend, Blue Color Bars= Sideways(Trend could be up or down), Pink Color line= DRV, V marked= Increase in Volume in relation to last few days. 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. Blue Color dots above the price are profit booking alerts. Purple dot on the charts are swing top/bottoms could be in place.
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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