Trading Zincmini and Leadmini

For the benefit of Leadmini and Zincmini traders I thought of publishing the following charts which could be quite useful. 

CHART OF ZINCMINI FOR THE MONTH OF AUGUST.

 

From the above chart we can observe that Zincmini is on the up move. However the general trend of the Zincmini seems to on the downtrend for the last 4 months. On the 24^th  it has seen a big up move and has crossed 50 days average which has not happened since July. It has also touched the upper limit of Bollinger band. The MACD and the SMI suggest that the price can move little bit more nearing 104 levels. After which profit booking may bring the price down. So a cautious approach should is made.  

CHART OF LEADMINI FOR THE MONTH OF AUGUST.

 

 

The above chart is also somewhat similar to Zincmini (as the price movement tends to move on similar line). We can notice there had been an up move in the price on the 24^th  The MACD and the SMI indicates the price may move upwards surpassing 106 levels. Leadmini has been showing a slight up trend in the last few days and reached the upper Bollinger band.  There can be selloff in the coming week, due to profit booking. 

The spread gap is also increasing for Leadmini and Zincmini which now stands at 5.75 The traders who might have entered Bear spread in the beginning of this month will see some profits now. 

For intraday traders the pivot levels are as follows.

	R2	R1	Pivot	S1	S2
Leadmini	109.40	108.68	107.95	107.55	107.15
Zincmini	104.07	103.25	102.43	101.83	101.22

Happy trading