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MCX Gold April 2017 Weekly: Accumulate At Lower Range

6 Feb 2017 12:43 pm
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Report for Date: 06/02/2017

MCX Gold (Price figures below are in Rs/INR per Kg)

Traders by chance long and holding the same can maintain the stop loss of 28000.

Further correction can continue on fall and close below 28000.

Weaker opening and correction first to 28772-28473 can be used for buying with a stop loss of 28000.

Expect higher range of 29207-29941.

TREND INFORMATION WITH WEEKLY LEVELS

STRATEGY

CLOSE

DRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

Hold Long

28909.00

28624.63

UP

28909.00

3.02

27739

28473

28772

29207

29941


*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.



PRICE, VOLUME AND OPEN INTEREST STRATEGY

Last Close

Price G/L%

Volume

V -G/L%

Open Interest

OI -G/L %

Candle

Position

28909.0

2.0

48404000

51.3

7048

29.5

Positive

Addition Long




TECHINCAL INDICATORS TABLE

RSI

1-ROC-RSI

Stochastic

1-ROC-

Stochastic

MACD

1-ROC

MACD

RS

1-ROC

RS

49.52

11.59

84.48

-0.41

-445.04

14.53

69.80

16.23









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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