MCX Gold April 2017 Weekly: Expect Higher Range To Be Tested

Report for Date: 20/02/2017

MCX Gold April 2017 Weekly: Expect Higher Range To Be Tested

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 28800.

Correction down to 29258-29030 can be used for buying with a stop loss of 28800.

Expect higher range of 2943-30256 to be tested.

TREND INFORMATION WITH WEEKLY LEVELS

STRATEGY	CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
Hold Long	29416.0	28769.8	UP	28909.0	3.02	28417	29030	29258	29643	30256

*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
29416.0	0.8	39304000	-24.5	6991	9.0	Positive	Addition Long

TECHINCAL INDICATORS TABLE

RSI	1-ROC-RSI	Stochastic	1-ROC- Stochastic	MACD	1-ROC MACD	RS	1-ROC RS
53.87	3.99	89.85	8.89	-272.16	24.55	77.94	2.76

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.