Login ID:
Password:
Partner Login
Contact Us : 07666977977

MCX Gold April 2017 Weekly: Cover Short Position

20 Mar 2017 10:59 am
 Comments 0 Comments  |  Comments Post Comment  |  Font Size A A A 

Report for Date: 20/03/2017

MCX Gold April 2017 Weekly: Cover Short Position

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

Cover short position if any at 28509 or below as the opportunity arises.

Further weakness is below 27907.

The 61.8% retracement of the rise from 26800 to 29785 has been tested.

The 61.8% retracement was at 27920 and low last week was 27907.

A hammer was formed on weekly chart at 61.8% retracement which suggest that momentary halt to the fall is being witnessed.

Expect higher range of 28730-29363 to be tested.

TREND INFORMATION WITH WEEKLY LEVELS

STRATEGY

CLOSE

DRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

Hold Short

28509.0

28886.7

DOWN

28366.0

10.03

27464

28097

28319

28730

29363


*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

28509.0

0.5

37312000

-19.8

4694

-19.5

Indecisive

Unwinding


TECHINCAL INDICATORS TABLE

RSI

1-ROC-RSI

Stochastic

1-ROC-

Stochastic

MACD

1-ROC

MACD

RS

1-ROC

RS

45.68

3.18

28.82

-43.92

-193.86

-4.10

52.25

0.23







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.


       
  Rate this story 1 out of 52 out of 53 out of 54 out of 55 out of 5 Rated
0.0

   Post comment
Comment :

Note : This forum is moderated. We reserve the right to not publish and/or edit the comment on the site, if the comment is offensive, contains inappropriate data or violates our editorial policy.
Name :  
Email :  
   

Top | Post Comment  

Top 5 Special Reports
Indian Edible Oil Outlook Uncertain Next Week
Cotton Weekly: Mill Fixation Pushes ICE May To More Tha...
Weekly: Cumin, Chilli & Pepper Decline; But Coriander, ...
Indian Mustard Seed Market Likely To Trade Range Bound ...
Technical: Cotton Seed Kadi : Correction Movement In Pr...
Copyright © CC Commodity Info Services LLP. All rights reserved.