MCX Lead daily chart technical analysis
MCX LEAD future on last session closed at 130.65 with loss. On daily chart mcx lead future price trend and momentum both are down. Lead is trading below all its short-term averages. For next week, mcx lead future support levels are 130 and 126 while on upside expect strong resistance at 134 and then 136.5 levels. For next week, mcx lead outlook is bearish and below 134 traders must keep sell on rise view. On downside 130 is first target, which almost achieved while below that 126 will be next target.
MCX Lead weekly chart technical analysis
MCX LEAD future this week closed in deep red with 4% drop in prices. On chart mcx, lead future medium to long-term trend is up but as momentum is losing out, this commodity is heading for support testing. On downside 128 is mcx lead 12 month average level while 122 is its 2 years average level. Both these will be support zones from medium to long-term view and important on weekly closing basis. On upside 133-136.5 and 140 are multiple resistance levels. Major indicators are with bearish divergences and suggesting fresh breakdown. Investors must watch major average and weekly closing above or below it for opening shorts or long positions.
