MCX Gold February 2017 Weekly: Further Rise Is Above 28857 Closing

Report for Date: 30/01/2017

MCX Gold February 2017 Weekly: Further Rise Is Above 28857 Closing

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

Traders by chance long and holding the same can maintain the stop loss of 28000.

Further correction can continue on fall and close below 28000.

Traders long can use rise to 28353 to 28857 to exit long position.

Re-enter long on rise and close above 28857.

Traders can buy above 28857 with low of the week as the stop loss or 28353 whichever is lower.

Further correction is below 28000 closing.

Retracement levels are at 27841 and 27634.

TREND INFORMATION WITH WEEKLY LEVELS

STRATEGY	CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
Hold Short	28353.0	28612.6	DOWN	28353.0	27.01	27234	28006	28432	28778	29550

*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
28353.0	-1.0	31999000	-17.4	5443	-17.4	Negative	Unwinding

TECHINCAL INDICATORS TABLE

RSI	1-ROC-RSI	Stochastic	1-ROC- Stochastic	MACD	1-ROC MACD	RS	1-ROC RS
44.38	-4.63	84.83	-2.98	-520.72	6.43	60.05	3.65

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.