MCX Silver September 2017 Weekly: Resistance at DRV

Report for Date: 21/08/2017

MCX Silver September 2017 Weekly: Resistance at DRV

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

Cover short position at 39063 or below as the opportunity arises.

Sell on fall below 38300 with high of the week as the stop loss or 39063 whichever is higher at the point of slide below 38300.

Resistance will be at DRV-39975.

Further breakout and close above 40842 will extend the rise.

Broadly, till 40842 is not crossed objective remains to exit long and sell.

TREND INFORMATION WITH WEEKLY LEVELS

STRATEGY	CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
Hold Short	39063.0	39975.0	DOWN	41289.0	21.04	36981.0	38353.0	39015.0	39725.0	41097.0

*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
39063.0	-0.3	2484960	-23.6	12663	-4.2	Indecisive	Unwinding

TECHINCAL INDICATORS TABLE

RSI	1-ROC-RSI	Stochastic	1-ROC- Stochastic	MACD	1-ROC MACD	RS	1-ROC RS
48.51	-1.07	75.42	-3.87	-738.52	12.34	45.88	-5.78

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.