Mcx lead future this week closed with heavy loss. On weekly chart, lead future given reversal from 6-month average and formed very bearish price pattern on weekly chart. On weekly chart price as well as indicators pattern are very bearish with fresh sell signals.
On upside 112.85 and 115.2 are strong resistance zones of its 3 and 6-month average while on downside 108 and 105 are strong support zones as well as target levels for next in current situation.
Mcx lead weekly chart RSI given fresh sell signal for those target. Below 110 mcx lead future may fall up to 104 on panic selling so watch 110 level closely. On daily chart also mcx lead triggered fresh sell signal for target 105-104.