Navigation

MCX Lead Consolidating in a triangle


The adjacent chart shows the price movement of MCX Lead continuous contract. It is forming a triangle pattern. In Tuesday’s trading session, MCX Lead found support at the lower end of the triangle and bounced back. Also, it has closed above the 20 DMA. It is likely to head higher towards the upper end of the triangle, which is currently pegged at 158. On the way down, 147 will act as a strong support. If it closes below 147, then it can drift lower towards 144. Traders should buy on dips as long as it doesn’t close below 147. The momentum indicator is in a negative mode.
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: