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MCX Copper February: Resistance Will Be At Higher Range

6 Dec 2018 10:33 am
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Report for Date: 6/12/2018


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


Traders short and holding the same can maintain the stop loss of 448.

Exit long and sell on rise to 439.2 or above with a stop loss of 448.

Expect lower range of 433-428 to be tested.


TREND INFORMATION WITH INTRA-DAY LEVELS

CLOSE

DRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

437.20

445.51

DOWN

451.7

5.11

428.1

433.7

435.7

439.2

444.8


*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

437.2

0.6

33212000

-23.2

11959

-7.2

Positive

Unwinding


TECHINCAL INDICATORS TABLE

RSI

1-ROC-RSI

Stochastic

1-ROC-

Stochastic

MACD

1-ROC

MACD

RS

1-ROC

RS

45.69

5.63

39.67

14.83

-3.41

4.22

51.70

15.13









Note: Red Color Bar= Down Trend, Green Color Bars= Up Trend, Blue Color Bars= Sideways(Trend could be up or down), Pink Color line= DRV, V marked= Increase in Volume in relation to last few days. 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. Blue Color dots above the price are profit booking alerts. Purple dot on the charts are swing top/bottoms could be in place.

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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