Login ID:
Password:
Partner Login
Contact Us : 7066511911

MCX Mentha Oil Jan: Anticipated Price Movement Is Unfolding

11 Jan 2017 10:04 am
 Comments 0 Comments  |  Comments Post Comment  |  Font Size A A A 

MCX Mentha Oil Jan: Anticipated Price Movement Is Unfolding


Report for Date: 11/01/17

MCX Mentha Oil Jan (Price figures below are in Rs/INR per Kg)

The trend is in Mentha oil futures on MCX.

Jan 2017 Futures contract settled at Rs 1025.70 per Kg Tuesday.

We have been constantly warning that a downward prices movement towards DRV may be seen and the same happens Tuesday as Mentha oil prices registered low of 1018.70 before settling at 1025.70 per Kg.

Momentum Oscillators are indicating that prices may further ease towards the next support cluster of 1012 – 999.

The lower top of 1059 will act as a major resistance now and anything close above it only will boost chances of extended uptrend.

Till then it is wise to stay away from the market in absence of clear momentum.

TREND INFORMATION WITH INTRA-DAY LEVELS
STRATEGY CLOSE DRV TREND* Trend Price Trend Date L1 L2 CP L3 L4
Stay Away 1025.7 1018.3 UP 1011.2 13.1 985.0 1013.8 1030.6 1042.6 1071.4


*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.

PRICE, VOLUME AND OPEN INTEREST STRATEGY

Last Close Price G/L% Volume V -G/L% Open Interest OI -G/L % Candle Position
1025.7 -1.9 975240 42.7 3771 -2.6 Negative Unwinding



TECHINCAL INDICATORS TABLE

RSI 1-ROC-RSI Stochastic 1-ROC- Stochastic MACD 1-ROC MACD RS 1-ROC RS
50.56 -11.17 34.93 -6.91 13.96 -14.95 48.87 -22.19







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.

View Full Image
Read Disclaimer
       
  Rate this story 1 out of 52 out of 53 out of 54 out of 55 out of 5 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 :  
   

Top | Post Comment  

Latest TechAnalysis Report
NCDEX Guar Gum May: Cover Short Position
MCX Mentha Oil May: Exit Long On The Rise
NCDEX Guar Seeds 10 Mt May: Cover Short Position
MCX Mentha Oil May: Expect Higher Range To Be Tested
NCDEX Guar Gum May: Cover Short Position
more
Top 5 News
MCX Silver May: Expect Higher Range To Be Tested
MCX Aluminum April 2018: Rise Continues
MCX Lead April: Accumulate
MCX Zinc April 2018: Accumulate
MCX Gold June: Higher Range Can Be Tested
Top 5 Special Reports
Technical: Guarseed Bikaner: Support Likely At Current ...
Technical: Cotton Seed Oil Cake Kadi - Lower Level To B...
Technical: Cotton Seed Kadi: Expect Lower Range To Be T...
Technical: Masoor Canada Crimson: Accumulate At Lower R...
Technical: Black Pepper Kochi: Further Downside Moment...
Copyright © CC Commodity Info Services LLP. All rights reserved.