MCX Gold February Weekly: Further Weakness Is Below 27300

Report for Date: 26/12/2016

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

Traders short and holding the same can maintain the stop loss at 27300.

Resistance will be at 27045-27229-27300.

Lower range for the week can be 26811-26393.

Near term pullback can happen if sustains above the weekly open and above 27300.

Sell if trades below weekly open and below 26800 with high of the week as the stop loss or 27300 whichever is higher.

TREND INFORMATION WITH WEEKLY LEVELS

STRATEGY	CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
Hold Short	26994.0	28868.2	DOWN	29396.0	11.11	26393	26811	27045	27229	27647

*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
26994.0	-0.6	30474000	-10.7	6571	5.8	Negative	Addition Short

TECHINCAL INDICATORS TABLE

RSI	1-ROC-RSI	Stochastic	1-ROC- Stochastic	MACD	1-ROC MACD	RS	1-ROC RS
30.54	-6.37	5.21	10.16	-518.54	-33.70	19.54	-4.13

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.