mcx lead weekly-bottomed out at 102-103 ?

mcx lead weekly forecast for 30 nov. to 4 dec. 2015

Mcx lead future this week closed with gain at 108.05. This was a first weekly gain for this base metal after 5 weeks straight fall. This week lead future low was at 102.5 while high was at 109.8. Total almost 8 rupees or 7% move from the bottom and positive closing on value buying. Current price pattern on weekly chart suggests lead future bottomed out around 102-103 levels.
For next week, mcx lead future resistance levels are 109 and 100.6 while traders must watch support levels of 104 and 102 for re-entry or fresh buying.
Mcx lead monthly chart signals still bearish and downside up to 94 rupee levels can’t be ruled out.

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Updated: 29/11/2015 — 12:21 PM

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Pramod Baviskar

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