MCX Lead daily chart technical analysis
Mcx lead future on last trading session closed at 132.15 with loss. On daily chart, mcx lead future price trend and momentum both are downsides and suggest correction and consolidation ahead. Daily chart indicators pattern also mixed reflecting it.
Lead future is trading below its month and 3-month average and heading towards bottom. For next week, mcx lead future, support zones are 130 and 126 while on upside 133 and 136.5 are strong resistances.
Traders below 133 keep short view and expect downside up to 129-130. If close decisively below 130 with volume then downside up to 125-126 cannot be ruled out.
MCX Lead weekly chart technical analysis
Mcx lead future this week closing with gains. This week mcx lead future low was at 131.7 while high was at 135.65. Total 3.5-rupee weekly range and closed with gain. On weekly chart, mcx lead future, price trend and momentum both are up. Trading above all medium to long-term averages and heading towards previous highs.
On chart, mcx lead future support zones are 128 and 122 while on upside expect strong resistances from market at 135 and 142.
Swing traders and investors above 128 on weekly closing basis keep buy on dips view and expect targets of 135 and then 142 in medium to long terms.