MCX : Log Scale Breakout with Volume
Updated
MCX is on the verge of breakout on log scale. Today's close above 835 would be the confirmation of breakout. Volume is increasing in last few days and today's volume has crossed last 20-25 sessions daily volume. 833.40 is a resistance zone from it had corrected last time. Stop loss of buy would be 760 for 1st target of 920. However, log scale breakout is a major event on long term chart and we can see it as a trend reversal point.
Our Take :Buy only on daily close above 835 with stop loss below 760 and hold for 12-18 months.
Our Take :Buy only on daily close above 835 with stop loss below 760 and hold for 12-18 months.
Trade active
Buy call has been initiated.
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