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MCX Silver July 2017 Weekly: Further Weakness Is Below 37500

15 May 2017 10:38 am
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Report for Date: 15/05/2017

MCX Silver July 2017 Weekly: Further Weakness Is Below 37500

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

Traders shot and holding the same can revise down the stop loss to 38310.

Sell is below 37500 with high of the week as stop loss or 38155 whichever is higher.

Pullback reversal will resume on rise and close above 38310 closing.

TREND INFORMATION WITH WEEKLY LEVELS

STRATEGY

CLOSE

DRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

Hold Short

38155.00

41481.92

DOWN

41289.0

21.04

37246

37819

38056

38392

38965


*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

38155.0

-0.4

1824720

1449.3

20379

5165.9

Indecisive

Addition long/Short


TECHINCAL INDICATORS TABLE

RSI

1-ROC-RSI

Stochastic

1-ROC-

Stochastic

MACD

1-ROC

MACD

RS

1-ROC

RS

37.19

-1.19

11.12

-18.90

-609.62

-40.50

34.55

-0.43




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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