Navigation
”play

MCX Lead has breached the trend channel

MCX lead has violated the trend channel on the one-hour chart
As one can see from the adjacent chart, MCX lead has violated the trend channel on the one-hour chart, which it was following since the last one month. The negative crossover on the key moving averages and Moving Average Convergence Divergence valued -1.15 indicates bearishness on the counter. The other technical observations are Relative Strength Index valued 14 and Stochastic valued 4 both indicate oversold territory on commodity. On rises (not at current level) till Rs.121.50- Rs.122.50, one can sell for downside target of Rs.119-Rs.118. Trade above Rs.123.60 will negate a bearish view.
Share

Shubhlaxmi

Shubhlaxmi Commodity is a Free portal where you are provided all market such as Commodity stocks futures and Currency Like USD To INR and internatinol live market prices and live charts and Free support and resistance level

Post A Comment: