MCX Silver December: Correction Is Being Witnessed 19 Sep 2017 8:48 am   0 Comments  |   Post Comment  |  Font Size A A A  Report for Date: 19/09/2017 MCX Silver December: Correction Is Being Witnessed MCX Silver (Price figures below are in Rs/INR per Kg) Exit long on rise from 39764 or above as the opportunity arises. Resistance will be at 40016-40432. Retracements of the rise from 36141 to 41927 are placed at 39700-39000-38360. Stochastic is in oversold zone therefore recovery if any can come from either of the retracement levels. Lower range for the day can be 39349-38266. TREND INFORMATION WITH INTRA-DAY LEVELS STRATEGY CLOSE DRV TREND* Trend Price Trend Date L1 L2 CP L3 L4 Hold Short 39764.00 40672.19 DOWN 39764.0 18.09 38266 39349 40016 40432 41515 *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 39764.0 -2.6 629670 18.8 13791 15.3 Negative Addition Short TECHINCAL INDICATORS TABLE RSI 1-ROC-RSI Stochastic 1-ROC- Stochastic MACD 1-ROC MACD RS 1-ROC RS 40.46 -28.12 14.74 -30.44 336.56 -27.20 37.60 -33.19 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. View Full Image Read Disclaimer   Rate this story Rated 0.0    Post comment Comment : Note : This forum is moderated. We reserve the right to not publish and/or edit the comment on the site, if the comment is offensive, contains inappropriate data or violates our editorial policy. Name :   Email :       Post Comment		Latest TechAnalysis Report Precious Metals Silver (May 24) Bullish Trend / Buy o... Precious Metals Gold (Jun 24) Bullish Trend / Buy at ... Precious Metals Silver (May 24) Bullish Trend / Buy o... Precious Metals Gold (Jun 24) Bullish Trend / Buy at ... Precious Metals Silver (May 24) Bullish Trend / Buy o... more Top 5 News Cotton Candy (May 24) Bearish Trend / Sell on Rise / K... Base Metals Zinc (May 24) Bullish Trend / Buy on Dips... Mentha Oil (Apr 24) Neutral Trend / Buy on Breakout / ... Base Metals Lead (May 24) Bullish Trend / Buy on Dips... Base Metals Copper (May 24) Bullish Trend / Buy at CM... Top 5 Special Reports US Cotton net export sales for April 12-18 at 177,100 R... US soybean net sales for April 12-18 at 210,900 MT, dow... Black Matpe Polished (AP) Consolidating Above Key Supp... Black Matpe Unpolished (AP) Consolidating in an Uptren... Castor Oil (Kadi) Weak Price Trend / Next Support at R...