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MCX Silver May 2017 Weekly: Further Rise Is Above 42820 Closing

22 Apr 2017 2:25 pm
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Report for Date: 24/04/2017

MCX Silver May 2017 Weekly: Further Rise Is Above 42820 Closing

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


Sideways movement and oscillation around the DRV has been witnessed.

The near term band of movement is 42820 and 41000.

Traders can buy above 42820 with low of the week as the stop loss or exit long.

Expect lower range of 40676-39026.

TREND INFORMATION WITH WEEKLY LEVELS

STRATEGY

CLOSE

DRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

Hold Short

41289.00

42123.15

DOWN

41289.0

21.04

39026

40676

41713

42326

43976


*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

41289.0

-3.0

1885170

39.2

12376

3.2

Negative

Addition Short


TECHINCAL INDICATORS TABLE

RSI

1-ROC-RSI

Stochastic

1-ROC-

Stochastic

MACD

1-ROC

MACD

RS

1-ROC

RS

47.82

-10.47

60.43

-8.58

-55.69

-206.11

46.17

-15.50








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.


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