MCX Crude Palm Oil February:Higher Range Is To Take Profits
MCX Crude Palm Oil:(Price are in INR (Rs)/10 kg)
Traders long can hold the same with a stop loss of 444.
Expect higher range of 455.1-458.8 to be tested.
Higher range can be used to take profits
TREND INFORMATION WITH INTRA-DAY LEVELS
STRATEGY
CLOSE
DRV
TREND*
Trend
Price
Trend
Date
L1
L2
CP
L3
L4
Hold Long
453.6
436.9
UP
423.2
11.01
447.7
451.4
453.0
455.1
458.8
*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.
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