Report for Date: 20/02/2017
MCX Gold April 2017 Weekly: Expect Higher Range To Be Tested
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 28800.
Correction down to 29258-29030 can be used for buying with a stop loss of 28800.
Expect higher range of 2943-30256 to be tested.
TREND INFORMATION WITH WEEKLY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Long
|
29416.0
|
28769.8
|
UP
|
28909.0
|
3.02
|
28417
|
29030
|
29258
|
29643
|
30256
|
*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
|
29416.0
|
0.8
|
39304000
|
-24.5
|
6991
|
9.0
|
Positive
|
Addition Long
|
TECHINCAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
53.87
|
3.99
|
89.85
|
8.89
|
-272.16
|
24.55
|
77.94
|
2.76
|
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.