Report for Date: 16/10/2017
MCX Gold October 2017 Weekly: Further Rise Is Above 29900
MCX Gold (Price figures below are in Rs/INR per Kg)
Expect higher range of 29946-30182 to be tested.
Support will be at 29710-29690.
Traders can buy on breakout and close above 29900 with low of the week as the stop lsos or 29851 whichever is lower.
TREND INFORMATION WITH WEEKLY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Long
|
29851.00
|
29301.44
|
UP
|
29203.0
|
11.08
|
29474
|
29710
|
29805
|
29946
|
30182
|
*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
|
29851.0
|
0.9
|
33974000
|
186.6
|
6779
|
-10.2
|
Positive
|
Unwinding
|
TECHINCAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
59.05
|
5.32
|
37.28
|
4.33
|
259.39
|
7.72
|
58.94
|
5.92
|
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.