mcx lead price daily chart forecast
mcx lead future on last trading session closed at 109.55 with loss.on daily chart mcx lead future trend is down while momentum is on recovery side like other base metals.
on daily chart now trading above month average of 109 which is immediate support on downside from short term view.below that 108 is week average and second support on daily chart while on upside 115 is 3 month average and major resistance for lead prices.
on indicators,mcx lead daily cci level is +14 and with bullish divergence while mcx lead daily rsi is 43 and still below 50 and holding sell signal.
mcx lead price weekly chart forecast
mcx lead future this week closed flat.this week mcx lead future made low at 104.25 while high was 110.7.total almost 7 rupee move and some recovery signs from this commodity.
on weekly chart,113 is 2 years average level and major long term resistance on upside.above that 116 is 12 month and 117 is 6 month average zone.on downside 108 and then 105 remain as small supports zones on weekly chart.on indicators side,mcx lead weekly cci is-151 and still in oversold zone.while mcx lead weekly rsi is 42 and holding sell signal.
mcx lead price forecast for 6 to 10 may 2013
for next week,below 115 trend remain down so follow sell on rise strategy and expect 108-105 levels as downside targets.if closed above 115 and sustain then only think of long.those brought at bottom must book profits or trail with strict stoploss.
from medium to long term view,below 113 on closing basis remain sell on rise and on downside 105 and 101 remain as target zones.if close above 113 in next week then only think of long side investment.