Updates for 26th April 2019

PLS NOTE : All chart analysis posted below are the author’s own idea of trading for educational purpose only &  not any form of advice or recommendations or opinion to anyone

Zinc : 

Above is the daily chart of ZINC.

Trend – uptrend

Multiple affected area is seen at around 2720 area.

Price is in consolidation since from last two days creating an inside bar at reversal affected area at around 2720.

Reason – Inside bar consolidation state formation at multiple affected area.

Pullback seems to be strong healthy at around 2720 area.

Action – Inside bar formed can be traded in bullish direction with a stop loss of day 1 i.e of 24th April’s low of daily candle.

 

LEAD : 

First one is daily price chart of Lead and second one is the 4 Hour descending channel chart of LEAD.

Lead – Clear side way structure seen in the daily chart as shown.

Price seems to be struggling at the arrived support area.

Small bullish rejection is found at multiple support area. We did not got clear bullish pin bar as expected but small risk can be taken at the arrived location.

Also Lead is passing through bearish descending channel as shown above. For confirmation we can wait for channel break and then enter long after retest,

Reason – Small bullish symptoms found at key support area.

Action – Lead can be bought strictly only if high of 23rd April candle breaks.

 

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