MCX Gold April 2017 Weekly: Higher Range Is To Take Profits

Report for Date: 13/02/2017

MCX Gold April 2017 Weekly: Higher Range Is To Take Profits

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 28900.

Resistance is at 29416-29905.

Correction can resume on fall and close below 28900.

Pullback retracement levels of the fall from 32455 to 26862 are placed at 29623 and 30317.

Higher range can attract profit booking pressure.

TREND INFORMATION WITH WEEKLY LEVELS

STRATEGY	CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
Hold Long	29173.00	28672.80	UP	28909.0	3.02	28438	28927	29171	29416	29905

*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
29173.0	0.9	52024000	7.5	6411	-9.0	Positive	Unwinding

TECHINCAL INDICATORS TABLE

RSI	1-ROC-RSI	Stochastic	1-ROC- Stochastic	MACD	1-ROC MACD	RS	1-ROC RS
51.80	4.60	82.52	-2.32	-360.73	18.94	75.85	8.67

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.