MCX Gold October: Exit Long On The Rise

Report for Date: 21/08/2017

MCX Gold October: Exit Long On The Rise MCX Gold (Price figures below are in Rs/INR per Kg)

Indecisive candle with large upper shadow has been witnessed which suggest resistance at higher range.

Resistance will be at 29227-29379.

Further rise is above 29443 and till then expect resistance and profit booking pressure at higher range.

Lower range for the day can be 29011-28643.


TREND INFORMATION WITH INTRA-DAY LEVELS

STRATEGY	CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
Hold Long	29163.0	28759.7	UP	28844.0	9.08	28643	29011	29227	29379	29747

*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
29163.0	0.0	13290000	44.7	6685	-0.2	Indecisive	Unwinding

TECHINCAL INDICATORS TABLE

RSI	1-ROC-RSI	Stochastic	1-ROC- Stochastic	MACD	1-ROC MACD	RS	1-ROC RS
61.97	0.44	59.91	-13.19	135.72	10.01	45.78	-6.75

Note: UP Green= Shows Up Trend as Close > DRV (Pink Line), DN Red= Shows Down Trend as Close < DRV(Pink Line), Red Color Bar= Down Trend + Bandwidth Is Rising, Green Color Bars= Up Trend + Bandwidth Is Rising, Blue Color Bars= Sideways(Trend could be up or down + Bandwidth is falling), 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. Bandwidth Indicator= Helps to determine directional speed in the direction of the trend. Falling Bandwidth would indicates loss of momentum being witnessed or likely to be witnessed. Sideways movement may emerge or upside or downside could be locked until Bandwidth does not turn up. Rising Bandwidth can bring about directional momentum.


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.