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MCX Gold April: Further Weakness Is Below 31777

14 Mar 2019 10:52 am
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Report for Date: 14/03/2019



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


Cover short position at 32207 or below as the opportunity arises.

Expect higher range of 32334-32603 to be tested.

Weakness can continue below 31777 and till then lower range of 32065 can be used to cover short positon.


TREND INFORMATION WITH INTRA-DAY LEVELS

CLOSE

DRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

32207.0

32353.1

DOWN

32981.0

28.02

31796

32065

32192

32334

32603


*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

32207.0

0.6

12520000

22.3

8859

-4.2

Positive

Unwinding


TECHINCAL INDICATORS TABLE

RSI

1-ROC-RSI

Stochastic

1-ROC-

Stochastic

MACD

1-ROC

MACD

RS

1-ROC

RS

41.45

13.98

45.04

19.68

-233.28

1.13

29.16

-13.33





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.


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