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MCX Gold Aprilí17: Expect Higher Range To Be Tested

17 Feb 2017 8:37 am
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 Report for Date: 17/02/2017


MCX Gold April’17: Expect Higher Range To Be Tested

MCX Gold (Price figures below are in Rs/INR per Kg)

Traders long and holding the same can maintain the stop loss at 29180.

Expect higher levels of 29540 – 29840 to be tested with volatility.

TREND INFORMATION WITH INTRA-DAY LEVELS  


STRATEGY CLOSE DRV TREND* Trend Price Trend Date L1 L2 CP L3 L4
Hold Long 29416.0 28788.7 UP 28507.0 30.01 28934.0 29237.0 29361.0 29540.0 29843.0


*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
29416.0 0.9 10902000 -0.1 6991 5.9 Positive Addition Long


TECHINCAL INDICATORS TABLE


RSI 1-ROC-RSI Stochastic 1-ROC- Stochastic MACD 1-ROC MACD RS 1-ROC RS
65.74 8.13 55.07 85.71 255.01 5.61 78.03 10.92








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.

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