lead intraday

MCX Lead trades weak
11 June 2008 10:28:07

MCX Lead traded mostly weak for the day following Lme and other metals. Market close near 84.10 levels after registering a low of 82.75 with minor losses.

MCX Lead June -Technical Outlook:

The daily stochastics have crossed over down which is a bearish indication. The prices closed below short term and medium term EMA, which supports bears. MACD is heading downwards in positive region, showing decrease in bullish momentum.

Technical are neutral to bearish signalling sideways to lower prices in the near term. Initial support for the market is around 83.0 level. If broken can see further fall to 81.8 and 80.9, If market holds above 83.9 further rally can be seen towards 85.1 and 86.0

Recommendations –MCX Lead June: Sell at 85 Target 83 and 81 SL 85.95

MCXARUN
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