MCX Mentha Oil May: Exit Long As Uptrend Halts



MCX Mentha Oil May: Exit Long As Uptrend Halts

24 May 2017 9:56 am

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Report for Date: 24/05/17

MCX Mentha Oil May (Price figures below are in Rs/INR per Kg)

The trend has turned down in Mentha oil futures on MCX.

May 2017 Futures contract settled at Rs 943.60 per Kg Tuesday.

Ideally, exit any pending long positions on rise to 948 – 953 levels or above as the opportunity arises.

Re-enter long only on rise and close above 968.
TREND INFORMATION WITH INTRA-DAY LEVELS

STRATEGY	CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
Exit Long	943.60	949.99	DOWN	940.40	19.05	922.73	936.23	942.37	949.73	963.23

*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.

PRICE, VOLUME AND OPEN INTEREST STRATEGY

Last Close	Price G/L%	Volume	V -G/L%	Open Interest	OI -G/L %	Candle	Position
943.6	-0.1	367200	-33.4	1184	5.1	Indecisive	Addition long/Short

TECHINCAL INDICATORS TABLE

RSI	1-ROC-RSI	Stochastic	1-ROC- Stochastic	MACD	1-ROC MACD	RS	1-ROC RS
46.91	-0.57	44.16	-18.45	-5.45	5.37	61.47	5.71

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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