Report For Date 4/2/2016
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 453.
Expect higher range of 462-468 to be tested.
Higher range can be used to take profits.
Bollinger Band Upper Band Slope is positive and moving higher along with the price.
The closing is also above the Upper Band.
Upper Band is at 456.
A closing below the previous day close of 453.60 (rounded to 453 for stop loss purpose) can end the current Bull Run in CPO.
Traders may trial position with the stop loss indicated to get higher profits or take profits at higher range as they are attained.
The 161.8% projection is at 472 and will be happen in the current run or post dip is to be seen.
TREND INFORMATION WITH INTRA-DAY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Long
|
459.1
|
440.8
|
UP
|
423.2
|
11.01
|
449
|
456
|
458
|
462
|
468
|
*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
|
Last Close
|
Price G/L%
|
Volume
|
% V Inc/Dec
|
Open Interest
|
% OI Inc/Dec
|
Candle
|
Position
|
|
459.1
|
1.2
|
14990000
|
-36.7
|
5539
|
-4.2
|
Positive
|
Unwinding
|
TECHNICAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
78.88
|
3.84
|
90.78
|
-0.01
|
7.44
|
15.01
|
95.82
|
0.89
|
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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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