MCX Copper June: Sideways Movement Being Witnessed 28 Apr 2017 8:15 am   0 Comments  |   Post Comment  |  Font Size A A A  Report for Date: 28/4/16 MCX Copper June: Sideways Movement Being Witnessed MCX COPPER (Price figures below are in Rs/INR per Kg) Volume increased in June contract has it becomes active on account of April contract expiry. Trend is down but nature of movement is sideways. Bandwidth is falling in a downtrend which suggests direction movement currently not being witnessed though a down trend is witnessed. Yesterday was volume day therefore low registered yesterday can be critical for near term. Further weakness can resume on fall and close below 366. Sell on fall below 366 with high of the day stop loss or 369.70. Resistance is at 371.60-376. If 366 is not violated then expect near term rise to 371-376 zone. Expect a pullback to higher range of Copper trades above the open and above 372. Traders can wait for proper directional trade indication to emerge and movement is flat and sideways. The DRV is horizontal for last few days also suggest sideways movement in progress. TREND INFORMATION WITH INTRA-DAY LEVELS STRATEGY CLOSE DRV TREND* Trend Price Trend Date L1 L2 CP L3 L4 Hold Short 369.70 380.19 DOWN 401.2 2.03 362.5 367.0 368.9 371.6 376.1 *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 369.7 -0.2 10009000 291.1 7133 71.0 Indecisive Addition long/Short TECHINCAL INDICATORS TABLE RSI 1-ROC-RSI Stochastic 1-ROC- Stochastic MACD 1-ROC MACD RS 1-ROC RS 40.21 -2.08 89.06 12.34 -5.23 4.79 54.61 -6.47 Note: Red Color Bar= Down Trend, Green Color Bars= Up Trend, Blue Color Bars= Sideways(Trend could be up or down), 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. Blue Color dots above the price are profit booking alerts. Purple dot on the charts are swing top/bottoms could be in place. 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 Base Metals Zinc (Apr 24) Bullish Trend / Buy on Dips... Base Metals Lead (Apr 24) Bullish Trend / Buy on Dips... Base Metals Copper (Apr 24) Bullish Trend / Buy on Di... Aluminium (Apr 24) Bullish Trend / Buy-on-Dips / Key S... Base Metals Lead (Apr 24) Bullish Trend / Buy on Dips... 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 Kadi (Gujarat) Cotton Seed Trading in a Range (Rs. 545... Soy Refined Oil (Indore) Trading Near Key Resistance (... US cotton net export sales for April 5-11 at 146,100 RB... US soybean net sales for April 5-11 at 485,800 MT, up 5... Black Matpe (Urad) SQ Burma (CNF$) Positive Trend / Ne...