MCX Gold February 2018 Weekly: Trend Still Down 18 Dec 2017 1:33 pm   0 Comments  |   Post Comment  |  Font Size A A A  Report for Date: 18/12/2017 MCX Gold February 2018 Weekly: Trend Still Down MCX Gold (Price figures below are in Rs/INR per Kg) Trend line has been tested as shown in the chart. The last bottom was at 27603 and the demand zone attached to it is 28073-27603. The low registered last week was 28055 and closed at 28254. The demand zone was tested along with the trend line and close was slightly higher respecting the support. Resistance will be at 28508-28533. A rise and weekly close above 28533 can mark a reversal and a swing bottom on weekly chart for pullback. Higher range for the week can be 28508-28988. Expect support and lower range therefore traders short and holding the same can maintain the stop loss at 28533. Down movement continues as long as Gold is trading below the weekly open on Monday and below last week low of 28055 on sustained basis. Downside momentum will continue on fall and close below 27603. TREND INFORMATION WITH WEEKLY LEVELS STRATEGY CLOSE DRV TREND* Trend Price Trend Date L1 L2 CP L3 L4 Hold Short 28254.0 29155.4 DOWN 29209.0 1.12 27548 28028 28281 28508 28988 *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 28254.0 -1.0 31048000 49.6 7051 7.5 Negative Addition Short TECHINCAL INDICATORS TABLE RSI 1-ROC-RSI Stochastic 1-ROC- Stochastic MACD 1-ROC MACD RS 1-ROC RS 38.92 -6.52 13.83 -39.92 -21.32 -135.98 34.37 -0.65 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.   Rate this story Rated 0.0    Post comment Comment : Note : This forum is moderated. We reserve the right to not publish and/or edit the comment on the site, if the comment is offensive, contains inappropriate data or violates our editorial policy. Name :   Email :       Post Comment		Latest Domestic Weekly Technical Analysis MCX : Gold & Silver Weekly Chart MCX : Gold & Silver Weekly Chart MCX : Gold & Silver Weekly Chart MCX : Gold & Silver Weekly Chart MCX : Gold & Silver Weekly Chart more Top 5 News NCDEX : Guar Gum & Guar Seed Weekly Chart NCDEX : Castor Seed Weekly Chart NCDEX Turmeric Weekly Chart* NCDEX : Dhaniya & Jeera Weekly Chart NCDEX : Cotton Seed & Kapas Weekly Chart Top 5 Special Reports US Cotton net export sales for April 12-18 at 177,100 R... US soybean net sales for April 12-18 at 210,900 MT, dow... Black Matpe Polished (AP) Consolidating Above Key Supp... Black Matpe Unpolished (AP) Consolidating in an Uptren... Castor Oil (Kadi) Weak Price Trend / Next Support at R...