Report for Date: 11/07/2017
MCX Gold August 2017 Weekly: Further weakness is below 27600
MCX Gold (Price figures below are in Rs/INR per Kg)
Traders short and holding the same can maintain the stop loss at 28450.
Thrusting Line candlestick pattern has been formed which suggest that near term rise to 28178 or above could be seen.
Trend is still down and further weakness is below 27600.
Sell is below 27600 or cover short position at 27996 or below as the opportunity arises.
TREND INFORMATION WITH WEEKLY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Short
|
27996.00
|
28790.62
|
DOWN
|
28690.0
|
16.06
|
27238
|
27708
|
27891
|
28178
|
28648
|
*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
|
27996.0
|
0.8
|
47347000
|
-14.5
|
6465
|
-5.4
|
Positive
|
Unwinding
|
TECHINCAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
42.38
|
6.73
|
11.83
|
15.16
|
-178.69
|
-21.54
|
37.15
|
-5.85
|
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.