MCX Gold February 2018 Weekly: Exit Long On The Rise

Report for Date: 11/12/2017

MCX Gold February 2018 Weekly: Exit Long On The Rise

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

Breakdown below the last support of 29069 has been witnessed.

The next higher bottom to be tested in near term with volatility is 27603.

Exit long and sell on rise from 28730-28990 with a stop loss of 29209.

Resistance will be at 28730-28990.

Lower range can be 28274-27558


TREND INFORMATION WITH WEEKLY LEVELS

STRATEGY	CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
Hold Short	28533.0	29259.7	DOWN	29209.0	1.12	27558	28274	28730	28990	29706

*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
28533.0	-2.3	20749000	-20.0	6560	1397.7	Negative	Addition Short

TECHINCAL INDICATORS TABLE

RSI	1-ROC-RSI	Stochastic	1-ROC- Stochastic	MACD	1-ROC MACD	RS	1-ROC RS
41.64	-15.69	23.02	-54.44	59.25	-55.87	34.60	-13.26

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.