MCX Crude Oil Weekly August: Expect Pullback

Report For Week Dated: 31/08/2015

MCX Crude Oil Weekly (Price INR(Rs)/Barrel)

A strong bull candle has been witnessed which suggest that reversal and momentary pause to the fall.

Further weakness can be seen below 2577 and till then cover short position.

Expect higher range of 3175-3644 to be tested.

Support will be at 2876-2706.

Contrarian long position can be undertaken on dip to 2876-2706 as the opportunity arises.

WEEKLY TREND INFORMATION WITH WEEKLY LEVELS

STRATEGY	CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
Hold Short	3005.0	3150.4	DOWN	3520.0	3.07	2237	2706	2876	3175	3644

*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 weekly closing stop loss of DRV: Close >DRV. If trend is down then traders can hold short position with a weekly 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
3005.0	12.0	128835696	62.6	18975	-49.3	Positive	Unwinding

TECHNICAL INDICATORS TABLE

RSI	1-ROC-RSI	Stochastic	1-ROC- Stochastic	MACD	1-ROC MACD	RS	1-ROC RS
39.21	45.19	27.45	429.81	-228.05	2.45	38.90	170.78

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.