MCX Mentha Oil July: Further Rise Is Above 1188

Report For Date: 21/06/2018

MCX Mentha Oil (Price are in INR)


Cover short position if any at 1174 or below.

Expect higher range of 1185-1211 to be tested.

Higher range is to exit long if any unless we see a decisive candle movement.

Weakness is below 1145.

Volatility band for near term to short term can be 1109 to 1261 with higher side range towards the upper band can be to exit long or avoid long.

Oscillation around the DRV is likely

Rise for near term can resume above 1188.

*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 closing stop loss of DRV: Close >DRV. If trend is down then traders can hold short position with a closing stop loss of DRV: Close <DRV.

PRICE, VOLUME AND OPEN INTEREST STRATEGY

TECHNICAL 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.