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MCX Crude Palm Oil Weekly May 2019: Sideways Volatility Is Likely

20 Apr 2019 3:09 pm
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Report For Date: 22/04/2019

MCX Crude Palm Oil: (Price are in INR (Rs)/10 kg)


Resistance will be at 546-554.

Further rise is above 561.

Traders can buy above 561 with low of the week as the stop loss.

Support will be at 532-523.


TREND INFORMATION WITH WEEKLY LEVELS

CLOSE

WRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

548.9

550.1

DOWN

541.0

12.04

528

541

546

554

567

*Trend will remain Down as long as last close is below the pink color WRV. Trend will be Up as long as Price is above WRV (Weekly Reversal Value). Positional Traders: If trend is up then traders long can hold long position with closing stop loss of WRV: Close >WRV=Up Trend. If trend is down then traders can hold short position with a closing stop loss of WRV: Close <WRV=Down Trend.

PRICE, VOLUME AND OPEN INTEREST STRATEGY

Last Close

Price G/L%

Volume

% V Inc/Dec

Open Interest

% OI Inc/Dec

Candle

Position

548.9

1.5

17680000.0

-59.1

4118.0

11.7

Positive

Addition Long

TECHNICAL INDICATORS TABLE


RSI

1-ROC-RSI

Stochastic

1-ROC-

Stochastic

MACD

1-ROC

MACD

RS

1-ROC

RS

48.62

6.16

68.46

42.76

-6.12

11.32

44.08

78.72


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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