Lead forecast for week 21 to 25 April
Lead daily chart technical analysis
Mcx lead on last trading session closed at 128.8 with gain. On daily chart, lead future price trend and momentum both are bullish and bullish breakout was seen in previous trading session. Lead is now trading above all short term averages with bullish indicators patterns on chart.
From short term view, lead future support zones are 127 and 126. 127 is 3 month average level and 126 is 1 month average level. On upside 130 and 133 are strong resistances as well as targets for next week.
Traders above 126 keep buy on dips view for lead future and keep targets at 130 and then 133.
Lead weekly chart technical analysis
Mcx lead this week closed with 2.43% gains. On weekly chart after taking support at 2 years average level led has given bullish reversal and now trading at its 6 month average level. This was third gaining week for lead future. This week lead hit high at 129.1 while low was at 125.5 total 4 rupee range or 3% swing and closed with gain.
From medium to long term view, lead future support zones are 128 and 123. 128 is 12 month average while 123 is 2 years average zone; on upside 131 is 6 month average resistance and above it 136.5 is previous swing top resistance area.
Investors hold long view and expect targets of 131 and then 136.5 in upcoming weeks.