lead intraday

Lead registered weekly low
26 June 2008 10:03:09

MCX Lead dropped to a low of 77.85 and closed at 76.30 with net loss of 2.03% from previous closing. Intra day high registered near 78.00

Lead inventories at LME, increased by 1925 MT to 98675 MT.

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 75.7 levels. If broken can see further fall to 75.1 and 74.0, If market holds above 76.9 further rally can be seen towards 77.5 and 78.6

Recommendations –MCX Lead June: Sell at 77 Target 75.3 and 74 SL 77.90


MCXARUN
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