Mcx lead monthly-remain sell for target 130 and 124

Lead future monthly outlook June 2017

Mcx lead future in month of May closed at 136.4 with loss. This
was forth weak month for lead prices and in these 4 months prices tumbled from
top of 165 to low of 132. This month aluminium future recorded low at 132 while
high was around 147. Total 15 rupee or 10% range and closing near low with
bearish outlook.
For month of June 2017, mcx lead future outlook remain
bearish below 138.6 level. Daily chart price pattern is bullish but indicators
are bearish and suggesting downside for this commodity in June series.
Below 138.6 my mcx lead positional sell targets are 130 and
then 124. Expect first bounce back towards 138.6 and then downside move. If breakout
happens above 138.6 with strong price action and on volume then above 138.6,
then remain bullish and might head towards 145 and 153.
Base metal Commodity traders below 138.6 go short with stop
loss above major top of 143 and keep targets at 130 and then 124 for month of
June 2017. 

From long term view, lead future hit my given corrective
target of 140 rupee and now trading below it with bearish trend and momentum
and heading towards 2017 bearish target of 105 rupees.

The Author

Pramod Baviskar

Professional Market Trader And Owner Of Dalal Street Winners Advisory And Coaching Services. Working Since 2007 And Online Presence Since 2010. We Provide Highly Accurate And Professional 1 Entry And 1 Exit Future, Option, Commodity, Currency And Intraday Stock Tips On Whatsapp With Live Support And Follow Up.
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