Mcx lead monthly-below 158 remain sell targets 139 and 118

Mcx lead monthly report for December 2016

Mcx lead monthly report for December 2016

Mcx lead future on last trading session closed at 159.55. Mcx lead given strong Bull Run in month of November and hit all super bullish target but now it is time for correction.   Mcx lead for month of December 2016, remain sell or weak below 158 rupee level. Mcx lead price trend and momentum will be bearish below 158. On downside my targets are 139 and 118. These are also act as major support zones for this series.   Mcx lead if sustain above 158 on weekly closing basis then expect strong reversal as well as fresh short covering rally up to 178 rupee but that possibility looks less likely. Mcx lead weekly chart showing that this base metal hit its medium to long term targets of 155 and 172. Now correcting towards support zones of 155 and then 136 rupee.

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Pramod Baviskar

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