MCX Gold April’17: Cover Short Position 17 Mar 2017 9:06 am   0 Comments  |   Post Comment  |  Font Size A A A  Report for Date: 17/03/2017 MCX Gold April’17: Cover Short Position MCX Gold (Price figures below are in Rs/INR per Kg) Bandwidth has increased as Gold moves down. The 50% and 61.8% retracement are at 2830 and 27920. Bounce has comes from the retracement level. A gap up opening and a rise was seen yesterday. Further weakness is below 28055. Expect higher range of 28526-28741. Traders short and holding the same can maintain the stop loss at 28540. Traders can buy if Gold trades above the open and above 28540 with low of the day stop loss or 28411 whichever is lower. TREND INFORMATION WITH INTRA-DAY LEVELS STRATEGY CLOSE DRV TREND* Trend Price Trend Date L1 L2 CP L3 L4 Hold Short 28411.00 28475.69 DOWN 29020.0 3.03 28096 28311 28425 28526 28741 *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 28411.0 1.5 11375000 38.0 4995 -14.3 Indecisive Unwinding TECHINCAL INDICATORS TABLE RSI 1-ROC-RSI Stochastic 1-ROC- Stochastic MACD 1-ROC MACD RS 1-ROC RS 41.63 49.99 29.52 353.06 -190.65 0.62 43.57 163.12 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 Precious Metals Silver (Jul 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... Mentha Oil (May 24) Neutral Trend / Buy on Breakout / ... Base Metals Zinc (May 24) Bullish Trend / Buy on Dips... Base Metals Lead (May 24) Bullish Trend / Buy on Dips... Base Metals Copper (May 24) Bullish Trend / Buy at CM... Top 5 Special Reports Desi Moong (Jaipur) Inflection Point: Retesting Key Re... Rajkot Groundnut Oil Loose Correction Underway / Next ... 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...