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MCX Gold April 2017 Weekly: Higher Range Is To Take Profits

13 Feb 2017 9:55 am
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Report for Date: 13/02/2017

MCX Gold April 2017 Weekly: Higher Range Is To Take Profits

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 28900.

Resistance is at 29416-29905.

Correction can resume on fall and close below 28900.

Pullback retracement levels of the fall from 32455 to 26862 are placed at 29623 and 30317.

Higher range can attract profit booking pressure.

TREND INFORMATION WITH WEEKLY LEVELS

STRATEGY

CLOSE

DRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

Hold Long

29173.00

28672.80

UP

28909.0

3.02

28438

28927

29171

29416

29905


*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

29173.0

0.9

52024000

7.5

6411

-9.0

Positive

Unwinding


TECHINCAL INDICATORS TABLE

RSI

1-ROC-RSI

Stochastic

1-ROC-

Stochastic

MACD

1-ROC

MACD

RS

1-ROC

RS

51.80

4.60

82.52

-2.32

-360.73

18.94

75.85

8.67






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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