Mcx lead weekly-achieved target of 136 rupee next tgt will be 128.5

Mcx lead future weekly technical analysis report for 15 to 19 may 2017

Mcx lead future weekly technical analysis report for 15 to 19 may 2017

Mcx lead future this week closed at 136.3 with loss. Mcx lead future is in downtrend and hit my given bearish swing target of 136 rupees in this week. We saw recovery towards 144.5 resistance levels which was shorting opportunity with stop loss for targets 136 and then 128.5 out of which 136 rupee target is got achieved now below 136 expect next target at 128.5 rupee.   Mcx lead future on upside has strong resistances at 139 and then 141 and these are fresh short entry zones for traders.   From long term view, mcx lead look weak and broke long term support of 140 rupee on weekly closing basis. Below 140, expect downside in 2017 up to 103 rupee.

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Pramod Baviskar

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