MCX Gold October: Expect Lower Range To Be Tested

Report for Date: 19/09/2017

MCX Gold October: Expect Lower Range To Be Tested MCX Gold (Price figures below are in Rs/INR per Kg)

Exit long on rise from 29547 to 29732 as the opportunity arises.

Expect lower range of 29450-29168 to be tested.

Stochastic is in oversold zone therefore lower range of 29450-29168 could attract support for a bounce or recovery.

A rise and close above 29856 can mark a near term reversal.



TREND INFORMATION WITH INTRA-DAY LEVELS

STRATEGY	CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
Hold Short	29547.00	29684.00	DOWN	29547.0	18.09	29168	29450	29635	29732	30014

*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
29547.0	-1.0	9044000	-5.2	5967	-5.3	Negative	Unwinding

TECHINCAL INDICATORS TABLE

RSI	1-ROC-RSI	Stochastic	1-ROC- Stochastic	MACD	1-ROC MACD	RS	1-ROC RS
48.53	-15.01	20.73	-7.27	214.77	-17.37	57.72	-4.39

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.