Report for Date: 04/12/2017
MCX Gold February 2018 Weekly: Further rise is above 29745
MCX Gold (Price figures below are in Rs/INR per Kg)
Sideways movement has been witnessed for last few week.
Correction has been witnessed from the recent high of 30629 but last few weeks the band is 29879-29069.
Traders long and holding the same can maintain the stop loss at 29069.
Resistance will be at 29644-29879.
Hold long position with a stop loss of 29069.
Traders can buy above 29879 with low of the week as the stop loss or 29069 whichever is lower.
Currently the movement can remain between 29879 and 29069.
TREND INFORMATION WITH WEEKLY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Long
|
29395.00
|
29350.38
|
UP
|
29658.00
|
10.11
|
28618
|
29131
|
29381
|
29644
|
30157
|
*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
|
29395.0
|
-0.4
|
21599000
|
863.8
|
5346
|
57.1
|
Indecisive
|
Addition long/Short
|
TECHINCAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
50.29
|
-3.04
|
54.84
|
-10.34
|
140.22
|
-14.50
|
41.52
|
5.33
|
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.