Choice International Ltd
Published on 18/01/2018 1:15:52 PM

Soybean

On the weekly chart, NCDEX Soybean has given breakout of Inverse H&S pattern; which is a more reliable setup, reversal of current downtrend. In addition, Prices has been trading above 100 EMA on weekly chart. Moreover, momentum indicator RSI (14) has sustained in buying mood. Furthermore, MACD has also supported the trend with positive crossover. Based on the above technical structure, we expect bullish movement in NCDEX Soybean Feb. future.

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Choice International Ltd
Published on 18/01/2018 1:15:28 PM

Turmeric

On the daily chart, NCDEX Turmeric price has sustained below middle band of Bollinger pattern; which act as immediate resistance zone in up trend. Moreover, Price has traded below 21 days EMA, which shows further break down in the counter. In addition, momentum indicator RSI (14) has reversed from overbought zone. Based on the above technical structure, we expect bearish movement in NCDEX Turmeric Apr. future.

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Choice International Ltd
Published on 18/01/2018 1:14:30 PM

Natural Gas

MCX Natural Gas has started the day on flat note and continue the upward rally for the day with gain of around 1.80%. On the daily chart, MCX Natural Gas price has given falling trendline breakout and above it. Moreover, momentum indicator RSI (14) has turned in bullish mood. Furthermore, MACD has shown inverse H&S formation, which suggest bullish move in the counter. Therefore, based on above technical studies we expect further bullish move in MCX Natural Gas.

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Choice International Ltd
Published on 18/01/2018 1:14:16 PM

Crude Oil

Yesterday, MCX Crude Oil price has started the day on a flat note and traded in range bound momentum for the entire day. On the weekly chart, Crude Oil has formed “Rising Wedge” formation; where price has sustained near the upper line of the pattern. On the other hand, NYMEX Crude Oil price has pulled back from three year high. Moreover, momentum indicator RSI (14) has traded in overbought zone with negative crossover. Furthermore, MACD has also shown negative crossover on weekly chart. Based on the above technical structure, we keep our bearish view in Crude Oil future for short term.

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Choice International Ltd
Published on 18/01/2018 1:13:57 PM

Zinc

On the daily chart, MCX Zinc price has been trading in rising channel formation; which indicate bullishness in the prices. In addition, On weekly chart, Zinc performed well from last six week; where it has made higher highs formation without enabling a selling pressure. Moreover, Price has taken support of 21 days EMA, which suggest upward rally going forward. Furthermore, momentum indicator RSI (14) reading is at 63.30 level which point out positive breath in the counter. Therefore, based on the above technical aspect, we expect bullish move in MCX Zinc future.

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