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MCX Silver March 2018 Weekly: Resistance At Higher Range

8 Jan 2018 12:30 pm
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Report for Date: 08/01/2018

MCX Silver March 2018 Weekly: Resistance At Higher Range

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

Trend line resistance is at higher range of 39450-3992.


The candle was narrow last week.

The DRV generally is crossed to react down later that has been the order of movement therefore sustain at or above trend line and DRV is an issue till decisive breakout above 39450


TREND INFORMATION WITH WEEKLY LEVELS

STRATEGY

CLOSE

DRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

Hold Short

39253.0

39325.7

DOWN

39877.0

20.10

38506

38978

39175

39450

39922


*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

39253.0

0.0

1730910

8.6

17003

-1.3

Positive

Unwinding


TECHINCAL INDICATORS TABLE

RSI

1-ROC-RSI

Stochastic

1-ROC-

Stochastic

MACD

1-ROC

MACD

RS

1-ROC

RS

50.90

0.16

72.22

60.54

-311.45

19.07

49.48

-9.20






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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