REPORT For Date 21/05/2018
Yuan per ton
Hold long position with a stop loss of 15580.
A strong rally has been witnessed and the same has not been seen in last 5 years.
The resistance on 5 year chart is at 17005 and 17780.
Immediate resistance is at 16400.
Further rise will continue above 16400.
Support will be at 16327-15833.
Volatility has been large last week therefore minor correction during the week could be seen before moving higher.
Correction to support of 16327-15833 can be used for buying with a stop loss of 15580.
Higher level of 17000-17780 can be used to book profits.
TREND INFORMATION WITH INTRA-DAY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
-
|
16580.0
|
15531.4
|
UP
|
15405.0
|
20.04
|
14593
|
15833
|
16327
|
17073
|
18313
|
*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
|
|
16580.0
|
5.6
|
4500778
|
543.5
|
406106
|
41.3
|
Positive
|
Addition Long
|
TECHNICAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
70.79
|
28.02
|
85.00
|
8.18
|
71.99
|
756.69
|
81.66
|
17.96
|
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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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