login_img.jpg
Login ID:
Password:
Partner Login
Contact Us : 7066511911

MCX Gold August 2017 Weekly: Exit Long On The Rise

10 Jul 2017 12:10 pm
 Comments 0 Comments  |  Comments Post Comment  |  Font Size A A A 

Report for Date: 10/07/2017

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

Traders short and holding the same can maintain the stop loss at 28450.

Exit long and sell on rise to 27976-28229 with a stop loss of 28450.

Expect lower range of 27532-26835 to be tested.

The last major bottom was at 26901 and the demand zone attached with it is 26862-26900.

On sustained fall and close below 27724 with bearish candle can lead to a slide towards the demand zone.

Reversal can happen if weekly close is above 28450.

Bandwidth has increased with the fall and bearish candle which suggest that downside momentum may continue with volatility.

Addition of short position has been witnessed as open interest increased with the fall and negative candle.

Volumes also increased over its previous week along with negative candle suggesting that selling has been more dominant.


TREND INFORMATION WITH WEEKLY LEVELS

STRATEGY

CLOSE

DRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

Hold Short

27784.00

28791.13

DOWN

28690.0

16.06

26835

27532

27976

28229

28926


*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

27784.0

-2.3

55345000

24.1

6833

16.0

Negative

Addition Short




TECHINCAL INDICATORS TABLE

RSI

1-ROC-RSI

Stochastic

1-ROC-

Stochastic

MACD

1-ROC

MACD

RS

1-ROC

RS

39.70

-13.31

10.28

-62.28

-147.03

-74.15

39.46

-24.78








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 :  
   

Post Comment  

Latest Domestic Weekly Technical Analysis
MCX : Gold & Silver Weekly Chart
MCX : Gold & Silver Weekly Chart
MCX : Gold & Silver Weekly Chart
MCX : Gold & Silver Weekly Chart
MCX : Gold & Silver Weekly Chart
more
Top 5 News
NCDEX : Guar Gum & Guar Seed Weekly Chart
NCDEX : Castor Seed Weekly Chart
NCDEX Turmeric Weekly Chart*
NCDEX : Dhaniya & Jeera Weekly Chart
NCDEX : Cotton Seed & Kapas Weekly Chart
Top 5 Special Reports
Desi Moong (Jaipur) Inflection Point: Retesting Key Re...
Rajkot Groundnut Oil Loose Correction Underway / Next ...
US Cotton net export sales for April 12-18 at 177,100 R...
US soybean net sales for April 12-18 at 210,900 MT, dow...
Black Matpe Polished (AP) Consolidating Above Key Supp...
Copyright © CC Commodity Info Services LLP. All rights reserved.