Mtechtips LEAD MCX intraday trading analysis 08-10-2012

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Mtechtips LEAD MCX  intraday trading analysis 08-10-2012

Mcx lead 31 oct 2012 expiry future on last trading session closed at 118.6 with gains.on daily chart mcx lead future now trading below weekly and monthly levels which suggest correction phase.mcx lead weekly level is 119 and monthly level is 118.8 and both these level now act as resistances as prices trading below them.on lower side 114 now major short term support and which 3 month level also. on daily chart analysis,mcx lead future still holding uptrend and for long positions stoploss must be below 114.above 119 we will see sharp bullish reversal.