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MCX Crude Oil January: Cover Short Position

7 Jan 2019 10:31 am
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 Report for Date: 07/01/2019




Cover short position at 3348 or below as the opportunity arises.

Expect higher range of 3364-3423-3558 to be tested.

Support will be at 3288-3153.

Sideways volatility and oscillation around DRV is likely to be witnessed.


TREND INFORMATION WITH INTRA-DAY LEVELS

CLOSE

DRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

3348.00

3340.0

UP

3348.0

4.01

3153

3288

3364

3423

3558


*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

Last Close

Price G/L%

Volume

 V -G/L%

Open Interest

OI  -G/L %

Candle

Position

3348.00

1.9

28010200

6.8

18518

-11.5

Indecisive

Unwinding


TECHINCAL INDICATORS TABLE
         

RSI

1-ROC-RSI

Stochastic

1-ROC-

Stochastic

MACD

1-ROC

MACD

RS

1-ROC

RS

32.71

15.23

21.99

34.28

-333.67

-7.24

24.40

18.55






Note: UP Green= Shows Up Trend as Close > DRV (Pink Line), DN Red= Shows Down Trend as Close < DRV(Pink Line), Red Color Bar= Down Trend + Bandwidth Is Rising, Green Color Bars= Up Trend + Bandwidth Is Rising, Blue Color Bars= Sideways(Trend could be up or down + Bandwidth is falling), 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.  Bandwidth Indicator= Helps to determine directional speed in the direction of the trend. Falling Bandwidth would indicates loss of momentum being witnessed or likely to be witnessed. Sideways movement may emerge or upside or downside could be locked until Bandwidth does not turn up. Rising Bandwidth can bring about directional momentum.

 

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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