Friday, February 4, 2011

MCX Lead Updates- Likely to maintain its Uptrend

MCX Lead February contract has been on continues buying mode since last two weeks. It made a high of 119.20 during the week. 14days RSI in daily charts is at 55 which suggest lead future prices are likely to rise further.

MCX Lead February contract opened at 117.65 per Kg against previous close of 117.45. It tested intraday high of 118.20 and last traded at 117.80. The contract faces resistance near 122 while its support is seen near 114.
 Short term traders can buy MCX Lead February contract near 117.50 with stop loss of 113.50 and can wait for target of 121


Posted By Commodity MCX Tips