mcx lead price today and levels analysis for 5 june 2015

mcx lead june expiry future is trading at 122.2 with loss of over 1%. in intraday mcx lead future made high around 123.5 while recorded intraday low around 121.9 and trading near it with bearish sentiment.
today all base metals are under pressure as Greek default is in sight and also traders does not want to carry risk in this weekend. situation over Greece is seems to difficult and might triggers volatility in financial markets. mcx lead future today trading volume until now is 5384.
look like mcx lead recovery rally is faltering and price tracing back towards previous lows. 118.5 is downside support for short term. on upside 125.5 and 128.8 are strong resistances. for intraday traders, 125.5 is stop loss for intraday short positions in mcx lead future. in panic sell off mode, lead future might fall up to 111 levels.

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Pramod Baviskar

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