Mcx lead hit 144.2 target next is 155

Mcx lead future technical analysis

Mcx lead future technical analysis

Mcx lead future is trading around 148 with gain. In intraday hit high of 148.35 and trading with almost 3% gains. Mcx lead price is now in bullish trend and momentum is strong bullish and we are seeing strong buying on every dips. Mcx lead given strong bullish breakout above 144.2 which was my first target for this base metal.   Now mcx lead heading for January bullish swing target of 155 rupee. Above 155 next major resistance as well as swing target will be 174 rupees. On downside 144 and bottom of 134 rupee are strong support zones. Mcx lead daily chart, showing prices are breakout out from short term downtrend and given breakout. And this rally has its targets around 161 rupee according to daily chart.   Mcx lead weekly chart showing big gains for the week and prices are clearly showing long term reversal patterns. On upside 151.5 and 159.3 and 166.5 are resistance levels on this chart. From long term view, mcx lead has taken support of 140 rupee levels and now heading towards my 2017 targets of 173 and then 209.

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Pramod Baviskar

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