mcx lead future daily chart
mcx lead future on last trading session closed at 124.9 with loss. on daily chart, lead price trend and momentum both are bullish. lead future closed below 1 month average but still trading above its 3 month average. daily chart indicators are forming bottomed out pattern suggesting upside for lead prices in next week. 123.6 is mcx lead 3 month average levels and 126.2 is 1 month average level and immediate resistance. mcx lead daily chart, macd is with rounding bottom suggesting recovery in prices. rsi is below 50 and flat. cci is at -51 and looks oversold. short term traders expect this reversal move to last up to 128. below 128 outlook still remain bearish. one can go long with stop loss below recent low for price target 128 in next week.
mcx lead future weekly chart
mcx lead future this week closed with gain. this week lead future high was at 127 while low was at 122. total 5 rupee weekly range or 4% weekly range and closed with gains after last 3 weeks negative closing. on weekly chart lead future given positive closing after touching major averages suggesting reversal signal. weekly chart support zones are 122 and 123 while on upside 133 and 138 are strong resistances of previous highs. weekly chart indicators, macd is below zero with early bottoming out pattern. rsi is still above 50 and cci is at 18 with bearish divergence. medium term traders and investors here can go long with stop loss below 120 for price target 133 and above.