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MCX Gold June 2017 Weekly: Higher Range Is To Take Profits

22 Apr 2017 2:27 pm
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Report for Date: 24/04/2017

MCX Gold June 2017 Weekly: Higher Range Is To Take Profits

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

Traders who are long and holding the same can maintain the stop loss of 29200.

Expect higher range of 29581-29921 to be tested.

Resistance will be at 29587-29785.

Further rise can be witnessed above 29785 closing.

Down movement will resume on fall and close below 29200.

TREND INFORMATION WITH WEEKLY LEVELS

STRATEGY

CLOSE

DRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

Hold Long

29432.00

28930.44

UP

29358.00

13.04

28901

29241

29391

29581

29921


*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

29418.0

0.0

46824000

20.8

6699

-11.8

Indecisive

Unwinding


TECHINCAL INDICATORS TABLE

RSI

1-ROC-RSI

Stochastic

1-ROC-

Stochastic

MACD

1-ROC

MACD

RS

1-ROC

RS

54.79

1.30

81.75

32.35

-60.78

46.40

60.87

7.98








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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