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MCX Crude Oil January: Expect Higher Range To Be Tested

9 Jan 2019 10:25 am
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 Report for Date: 10/01/2019




Expect higher range of 3525-3636 to be tested.

Support will be at 3412-3300.

Traders long and holding the same can maintain the stop loss at 3300.


TREND INFORMATION WITH INTRA-DAY LEVELS

CLOSE

DRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

3474.00

3365.55

UP

3348.00

4.01

3300

3412

3463

3524

3636


*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

3474.0

0.9

25644000

-7.8

15938

-17.5

Positive

Unwinding


TECHINCAL INDICATORS TABLE
         

RSI

1-ROC-RSI

Stochastic

1-ROC-

Stochastic

MACD

1-ROC

MACD

RS

1-ROC

RS

47.52

3.66

84.51

8.14

-139.32

13.95

58.09

1.07



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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