Report for Date: 12/12/2016
MCX Gold February Weekly: Expect Lower Range To Be Tested
MCX Gold (Price figures below are in Rs/INR per Kg)
Traders short and holding the same can maintain the stop loss at 28200.
The 61.8% retracement of the rise from 24451 to 32455 is placed at 27500.
Expect lower range of 27349-26714 to be tested.
Resistance will be at 27758-27984-28200.
Exit long and sell on rise from 27576 to 27984.
Lower range can bring about a recovery as the gap at lower range is at 27578-27253.
TREND INFORMATION WITH WEEKLY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Short
|
27576.0
|
29378.4
|
DOWN
|
29396.0
|
11.11
|
26714
|
27349
|
27758
|
27984
|
28619
|
*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
|
|
27576.0
|
-1.9
|
34153000
|
2.2
|
6271
|
1.7
|
Negative
|
Addition Short
|
TECHINCAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
32.62
|
-8.21
|
4.73
|
-26.17
|
-387.85
|
-51.87
|
20.38
|
-2.16
|
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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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