MCX Gold April 2017 Weekly: Expect Sideways Volatility Around Drv

Report for Date: 04/03/2017

MCX Gold April 2017 Weekly: Expect Sideways Volatility Around Drv

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

Exit long on rise to higher range of 28463-28794-28950.

Expect lower range of 28276-27758 to be tested.

Bandwidth is falling therefore expect sideways volatility around DRV.

Further rise and close above 28950 can resume the rally towards 20312 or above.

Overall support will be witnessed at lower range and till 27900 is not violated expect consolidation between 28950 and 27900.

Band of movement can be 28950 to 27907.

TREND INFORMATION WITH WEEKLY LEVELS

STRATEGY	CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
Hold Short	28463.0	28883.2	DOWN	28366.0	10.03	27758	28276	28607	28794	29312

*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
28463.0	-1.1	32913000	-26.3	1271	-69.8	Negative	Unwinding

TECHINCAL INDICATORS TABLE

RSI	1-ROC-RSI	Stochastic	1-ROC- Stochastic	MACD	1-ROC MACD	RS	1-ROC RS
44.37	-5.34	36.28	19.73	-320.12	0.51	42.98	-21.19

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.