MCX Copper February’17: Exit Long On The Rise

Report for Date: 24/02/2017

MCX Copper February’17: Exit Long On The Rise

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

Exit long on rise from 388 to 405 as the opportunity arises.

A bearish candle was formed and violated the higher bottom of 400 at closing leading to a strategy to exit long on the rise from last close or above.

Expect lower range of 384-370 to be tested in near term with volatility.

TREND INFORMATION WITH INTRA-DAY LEVELS

*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

TECHINCAL INDICATORS TABLE

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.