REPORT For Date 16/07/2018
Yuan per ton
Cover short position at 16045 or below as the opportunity arises.
Swing bottom appears to be in place as a result of the higher low and higher high with bullish candle.
Open interest increased with the rise and positive candle which indicates addition of long position.
Contrarian buy situation appears to be in place.
Weaker opening and correction first to 15898-15602 can be used for buying with a stop loss of 15285.
Higher range for the week can be 16342-17082.
TREND INFORMATION WITH INTRA-DAY LEVELS
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
16045
|
16185
|
DOWN
|
16105
|
22.06
|
14862
|
15602
|
15898
|
16342
|
17082
|
*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
|
|
16045.0
|
4.0
|
190362.0
|
-22.9
|
185662.0
|
2.0
|
Positive
|
Addition Long
|
TECHNICAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
51.03
|
16.91
|
12.99
|
94.70
|
155.39
|
-10.93
|
39.24
|
24.14
|
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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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