MCX Lead trading within range

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Adjacent chart shows the price movement of MCX Lead continuous contract. Lead is trading within range of 144 – 149 since past few trading sessions. Currently, it is approaching the upper end of the range. On the way up, 149 – 150 zone will act as resistance in the near term. If it fails to close above 150 then it can dip towards the lower end of range i.e. 144. Overall, sideways consolidation within 144 – 149 is possible in the forthcoming trading session. Also, the narrowing of Bollinger band indicates a likelihood of range bound movement in the near term. The daily momentum indicator is bullish.

trading within range

 

 

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