is there any technical analyst have answer what should be final resistance of gargum
- Thread starter shrigsm
- Start date
Re: is there any technical analyst have answer what should be final resistance of gar
Dear Friend
I believe on 7th feb Gargum was quoting @ somewhere around 37 k.. today it is close to 96 k..
one seldom sees such 'bull runs' in one's life..
definitly reminds u of the 'tulip bulbs'..
make hay till the sun shines...and be prepared fr a reversal...
regards
Dear Friend
I believe on 7th feb Gargum was quoting @ somewhere around 37 k.. today it is close to 96 k..
one seldom sees such 'bull runs' in one's life..
definitly reminds u of the 'tulip bulbs'..
make hay till the sun shines...and be prepared fr a reversal...
regards
Re: is there any technical analyst have answer what should be final resistance of gar
This is my view on GarGum:
Technical Analyst will look at the chart for Supply & Demand Levels.
Since Demand is continuously rising and there is No Supply, it is bullish, but it's bullish run weakens if two consecutive weekly candles closes below EMA-5 (Exponential Moving Average 5).
Fundamental Analysis:
The oil industry always has used guar gum and started using a much larger volume in 2010 because of horizontal drilling techniques in shale gas and oil formations, said Dennis Seisun, founder of San Diego-based IMR International. Guar gum comes from plants, most of which are grown in India and Pakistan, he said. Basically the oil people are big buyers, big spenders, he said. They go to the guar suppliers and say, Whats your price, and give me all you got. The food industry is getting left behind. Full Article link: http://www.foodbusinessnews.net/News/News Home/Features/2011/8/Inside the guar gum bubble.aspx
Within last 6 months, China claimed world's biggest shale gas reserves.
Weekly candlestick chart is shown in following picture:
If I am holding Buy position then I will exit as soon as it's weekly candle crosses EMA-5 line---Safety First!!!
This is my view on GarGum:
Technical Analyst will look at the chart for Supply & Demand Levels.
Since Demand is continuously rising and there is No Supply, it is bullish, but it's bullish run weakens if two consecutive weekly candles closes below EMA-5 (Exponential Moving Average 5).
Fundamental Analysis:
The oil industry always has used guar gum and started using a much larger volume in 2010 because of horizontal drilling techniques in shale gas and oil formations, said Dennis Seisun, founder of San Diego-based IMR International. Guar gum comes from plants, most of which are grown in India and Pakistan, he said. Basically the oil people are big buyers, big spenders, he said. They go to the guar suppliers and say, Whats your price, and give me all you got. The food industry is getting left behind. Full Article link: http://www.foodbusinessnews.net/News/News Home/Features/2011/8/Inside the guar gum bubble.aspx
Within last 6 months, China claimed world's biggest shale gas reserves.
Weekly candlestick chart is shown in following picture:
If I am holding Buy position then I will exit as soon as it's weekly candle crosses EMA-5 line---Safety First!!!
Re: is there any technical analyst have answer what should be final resistance of gar
From today, NCDEX banned Fresh Positions in GarGum in forward contract of next 3 or 5 months (may be up to july, one can check NCDEX circular for exact details) till its expiry date, only square off allowed!
NCDEX charts Link: http://ncharts.ncdex.com/NXDLY/pd/Default.aspx
Click on the icon as shown in the following picture (in blue square) for historical continuous chart.
From today, NCDEX banned Fresh Positions in GarGum in forward contract of next 3 or 5 months (may be up to july, one can check NCDEX circular for exact details) till its expiry date, only square off allowed!
NCDEX charts Link: http://ncharts.ncdex.com/NXDLY/pd/Default.aspx
Click on the icon as shown in the following picture (in blue square) for historical continuous chart.
Re: is there any technical analyst have answer what should be final resistance of gar
Finally FMC banned trading in GarGum and advised to close out all positions. All positions to be settled at closing price of 27 March 2012.
Link of circular: http://www.ncdex.com/Downloads/Circ...tracts_in_Guar_Gum_and_Guar_Seed_27032012.pdf
Finally FMC banned trading in GarGum and advised to close out all positions. All positions to be settled at closing price of 27 March 2012.
Link of circular: http://www.ncdex.com/Downloads/Circ...tracts_in_Guar_Gum_and_Guar_Seed_27032012.pdf
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