Report for Date: 08/01/2018
MCX Silver March 2018 Weekly: Resistance At Higher Range
MCX Silver (Price figures below are in Rs/INR per Kg)
Trend line resistance is at higher range of 39450-3992.
The candle was narrow last week.
The DRV generally is crossed to react down later that has been the order of movement therefore sustain at or above trend line and DRV is an issue till decisive breakout above 39450
TREND INFORMATION WITH WEEKLY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Short
|
39253.0
|
39325.7
|
DOWN
|
39877.0
|
20.10
|
38506
|
38978
|
39175
|
39450
|
39922
|
*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
|
39253.0
|
0.0
|
1730910
|
8.6
|
17003
|
-1.3
|
Positive
|
Unwinding
|
TECHINCAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
50.90
|
0.16
|
72.22
|
60.54
|
-311.45
|
19.07
|
49.48
|
-9.20
|
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.