Report for Date: 8/2/16
MCX Copper February: Further Rise Is Above 322 Closing
MCX COPPER (Price figures below are in Rs/INR per Kg)
Hold long position with a stop loss of 305.
Resistance is at 316.1-318.9-322.
Further rally is above 322.
Breakout and close above 322 is essential to extend the rise otherwise lower top is in place at current levels.
Use rise from 316 to 322 to exit long and take profits.
Re-enter long on rise and close 322.
TREND INFORMATION WITH INTRA-DAY LEVELS
STRATEGY
CLOSE
DRV
TREND*
Trend
Price
Trend
Date
L1
L2
CP
L3
L4
Hold Long
316.10
309.23
UP
312.3
27.01
308.2
313.5
316.3
318.9
324.2
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
316.1
-1.0
38275000
-3.6
15328
-6.7
Indecisive
Unwinding
RSI
1-ROC-RSI
Stochastic
1-ROC-
Stochastic
MACD
1-ROC
MACD
RS
1-ROC
RS
59.38
-7.00
86.03
3.39
1.94
25.60
72.53
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