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MCX Copper February 2018 Weekly: Resistance Remains At Higher Range

7 Jan 2019 9:43 am
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Report for Date: 07/01/2019



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


Traders short and holding the same can revise down the stop loss to 425.

Resistance will be at 409-420.90.

Lower range can be 397.9-374.90.


TREND INFORMATION WITH WEEKLY LEVELS

CLOSE

WRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

409.6

434.4

DOWN

417.4

21.12

374.9

397.9

409.1

420.9

443.9


*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

409.60

-1.85

207059008.00

40.45

19418.00

16.84

Indecisive

Addition long/Short


TECHINCAL INDICATORS TABLE

RSI

1-ROC-RSI

Stochastic

1-ROC-

Stochastic

MACD

1-ROC

MACD

RS

1-ROC

RS

39.48

-6.01

16.07

-40.47

-4.96

-42.95

31.49

-25.93


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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