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MCX Gold December 2018 Weekly: Accumulate

6 Oct 2018 3:39 pm
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Report for Date: 08/10/2018



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


Weaker opening and correction first to 31332-30994 can be used for buying with a stop loss of 30500.

Expect higher range of 31981-32968.

The last peak was at 31808 and the same could be tested.

On further breakout and close above 31808 can lead to a further rally.

Initial profit booking could be seen around 31808-31981.

A breakout and weekly close above 31808 can set a rally to 33300.

Traders long and holding the same can maintain the stop loss of 30500.



TREND INFORMATION WITH WEEKLY LEVELS

CLOSE

WRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

31643.0

30481.7

UP

30335.0

31.08

30007

30994

31332

31981

32968


*Trend will remain Down as long as last close is below the pink color WRV. Trend will be Up as long as Price is above WRV.

PRICE, VOLUME AND OPEN INTEREST STRATEGY

Last Close

Price G/L%

Volume

V -G/L%

Open Interest

OI -G/L %

Candle

Position

31643.0

2.8

34870000.0

68.8

13942.0

25.2

Positive

Addition Long


TECHINCAL INDICATORS TABLE

RSI

1-ROC-RSI

Stochastic

1-ROC-

Stochastic

MACD

1-ROC

MACD

RS

1-ROC

RS

62.77

16.57

80.54

9.43

87.91

2473.28

58.55

15.58







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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