MCX Lead Trades Bullish At 126 Levels, Support At 125-124

Published 01/23/2013, 07:46 AM
Updated 05/14/2017, 06:45 AM
IMOEX
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MCX Lead has a bullish week ahead as the indicators show a positive trend. Decline of inventories and weak Dollar Index has reflected the prices.

The flag pattern shows a sideways trend during the last week, has recovered at 123 and now trading at 126.35. MCX Lead may witness a bullish rally this week. 20 day SMA at 126.34 lies below the market prices, hence a crossover in the near term may have a reverse trend in the market Prices.

Lead LME rallied in Bullish as it reflects in the domestic markets. Even though the chart shows a slight negative in MACD, but fast stochastic level has reflected the market prices. The trend will be positive, until the prices don’t break 125 levels.

S1: 125 S2: 124
R1: 126.25 R2: 126.95

Trend: Bullish
Price
By John Godson

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