MCX

Until we actually see some bullish momentum on the chart of MCX, all we can say is that prices have been in a consolidation mode since August of this year and we are close to the lower end of the range with the 40 week average at 1152, which should be an important medium-term support level. The weekly momentum indicator is below the 0 line showing a completed cycle and what we really have to wait for is for momentum indicators to turn up again.