MCX Gold December: Sideways Volatility Being Witnessed 22 Nov 2017 9:27 am   0 Comments  |   Post Comment  |  Font Size A A A  Report for Date: 22/11/2017 MCX Gold December: Sideways Volatility Being Witnessed MCX Gold (Price figures below are in Rs/INR per Kg) sideways movement and oscillation around the DRV is being witnessed. Further rally is above 29725. A breakout and close above 29725 can set a rally but till such time upside to 29347-29750 can be used to exit long position. Resistance will be at 29354-29433. Support will be at 29280-29069. Lower range can attract support till 29069 is not violated. Movement is likely to range movement for near term therefore positional traders would have difficult in holding the trades. Trading could be avoided from positional trade angle. TREND INFORMATION WITH INTRA-DAY LEVELS CLOSE DRV TREND* Trend Price Trend Date L1 L2 CP L3 L4 29347.0 29504.7 DOWN 29370.0 20.11 29105 29269 29354 29433 29597 *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. Sideways- No Directional Movement Indication PRICE, VOLUME AND OPEN INTEREST STRATEGY Last Close Price G/L% Volume V -G/L% Open Interest OI -G/L % Candle Position 29347.0 -0.1 7202000 -9.9 4743 -3.6 Negative Unwinding TECHINCAL INDICATORS TABLE RSI 1-ROC-RSI Stochastic 1-ROC- Stochastic MACD 1-ROC MACD RS 1-ROC RS 45.03 -1.39 34.49 -12.94 -19.78 -120.11 34.10 -12.30 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-on-... Precious Metals Silver (May 24) Bullish Trend / Buy o... Precious Metals Gold (Jun 24) Bullish Trend / Buy-on-... Precious Metals Silver (May 24) Bullish Trend / Buy o... more Top 5 News Cotton Candy (May 24) Bearish Trend / Sell on Rise / K... Mentha Oil (Apr 24) Neutral Trend / Buy at CMP / Price... Base Metals Zinc (Apr 24) Bullish Trend / Buy on Dips... Base Metals Lead (Apr 24) Bullish Trend / Buy on Dips... Aluminium (Apr 24) Bullish Trend / Buy-on-Dips / Key S... Top 5 Special Reports Canadian Lentil Prices Hit Record Highs, Outlook Remain... Canadian Chickpea Prices Hit Record High, Outlook for 2... Canadian Dry Pea Market Sees Price Rise Despite Export ... Kadi (Gujarat) Cotton Seed Trading in a Range (Rs. 545... Soy Refined Oil (Indore) Trading Near Key Resistance (...