MCX PIVOT POINT

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(Disclaimer : The above chart shown is for study purpose only and not for trading decision)

Monday, April 30, 2012

Lead: Surpassing hurdles

As can be observed from the adjacent chart, MCX Lead has crossed the short term as well as the medium term falling trendline. Though there is no impulse formation on the upside as of now, the bulls are maintaining higher top - higher bottom formation. The price is moving up in a channelised manner. The daily momentum indicator is in the positive territory. Thus unless the swing low of Rs108.4 is broken on a closing basis, Lead can test the high of Rs114.25 with a potential to move higher.

Today`s MCX Free Power Level & Live Chart