MCX Crude Oil March: Near Term Rise Is Above 3694

Report for Date: 23/02/2017

MCX Crude Oil March: Near Term Rise Is Above 3694

Sideways volatility and oscillation around the DRV cannot be ruled out.

Bandwidth is falling leading to contraction of movement and sideways volatility.

Exit long on rise to 3601-3646 as the opportunity arises.

Buy above 3695 with low of the day stop loss or 3601 whichever is lower.

Expect lower range of 3571-3496 to be tested. Support could be seen at 3571 for bounce for sideways volatility.

TREND INFORMATION WITH INTRA-DAY LEVELS

*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

TECHINCAL INDICATORS TABLE

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.