MCX Gold April 2017 Weekly: Expect Near Term Correction

Report for Date: 06/03/2017

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

Exit long on rise from 29020 or above.

Bearish candle has been formed last week after high of the current rally which suggest near term top for minor correction before making attempt to cross above 29785.

Lower range for the week can be 28720-27887.

Resistance will be at 29252-29553-29785.

TREND INFORMATION WITH WEEKLY LEVELS

STRATEGY	CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
Hold Long	29020.0	28902.7	UP	28909.0	3.02	27887	28720	29252	29553	30386

*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
29020.0	-2.0	47530000	14.0	6130	-10.4	Negative	Unwinding

TECHINCAL INDICATORS TABLE

RSI	1-ROC-RSI	Stochastic	1-ROC- Stochastic	MACD	1-ROC MACD	RS	1-ROC RS
49.75	-10.60	79.24	-13.26	-160.20	14.42	55.94	-31.48

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.