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MCX Silver May 2017 Weekly: Cover Short Position

20 Mar 2017 10:58 am
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Report for Date: 20/03/2017

MCX Silver May 2017 Weekly: Cover Short Position

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

Cover short position at 40909 or below as the opportunity arises.

Expect higher range of 41493-42920 to be tested.

Overall further slide is below 39034 closing.

TREND INFORMATION WITH WEEKLY LEVELS

STRATEGY

CLOSE

DRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

Hold Short

40909.00

42159.77

DOWN

40528.0

10.03

38639

40066

40651

41493

42920


*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

40909.0

0.9

1486800

-23.0

13655

1.0

Indecisive

Unwinding


TECHINCAL INDICATORS TABLE

RSI

1-ROC-RSI

Stochastic

1-ROC-

Stochastic

MACD

1-ROC

MACD

RS

1-ROC

RS

45.97

4.20

22.34

-49.54

-137.89

-72.43

47.87

3.83






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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