Report For Date: 05/01/2018
MCX Crude Palm Oil Weekly January: Sideways Volatility Likely
MCX Crude Palm Oil: (Price are in INR (Rs)/10 kg)
Hold long position if any with a stop loss of 539.
Resistance will be at 566-575.50.
Further rise is above 575.
Deeper correction is below 545.
Reversal from correction can resume above 575.
Traders can buy above 575 with low of the day stop loss or 545 whichever is lower.
Sideways movement and oscillation around the DRV-545.7 can be witnessed.
Bandwidth is falling therefore contraction of movement is likely with volatility.
TREND INFORMATION WITH WEEKLY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Long
|
560.7
|
545.3
|
UP
|
509.7
|
18.08
|
547.3
|
556.7
|
562.0
|
566.1
|
575.5
|
*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
|
560.7
|
1.1
|
82950000
|
200.5
|
5123
|
325.1
|
Indecisive
|
Unwinding
|
TECHNICAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
53.92
|
2.89
|
30.21
|
-17.21
|
11.34
|
-8.12
|
49.07
|
16.27
|
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.