Lead Futures price seems ready to enter in to the lower trading zones after constantly attempting to breach a tough resistance at $2572. I find the need of the hour is to keep a strict vigil at the crucial levels before taking a final call. Reason is only one, that whenever, a futures price enters into a regular attempting moves to test the resistance ahead, it may create a sharp move on either side. If it successfully crosses the resistance, then an appearance of a Breakout is seen on the price charts on one hand. And, if it fails to do so, this sharp move may be downward. It is therefore, wait and watch strategy is the best one before entering into a position.
On analysis of the movement of Lead futures price in different time zones, I have noted some important levels to be taken care of before taking any position, short or long, in 1 Hr. chart pattern .
I conclude an Expected Propositional Trading Zone in 1 Hr. Chart for the Week of October 8th, 2017.
Have a Nice Trading Time. Good Luck!
Disclosure: This content is for information and educational purposes only and should not be considered investment advice or an investment recommendation. Past performance is not an indication of future results. All trading carries risk. Only risk capital you are prepared to lose.
