Lead future daily chart technical analysis
Lead future on Friday closed at 140.15 with gains. We saw high of 144.45 this week and lead future hit 144.5 buy target in this week. On daily chart lead prices have major support around 139 and above expect uptrend to continue but daily chart indicators are signaling bearishness ahead so watch for breakdown below 139 and then go short with stop loss. Below 139 expect sell side targets around 131 and then 125 rupees.
Lead future weekly chart technical analysis
Mcx Lead future this week closed at 140.15 with loss. On weekly chat, lead future is in downtrend and trading below averages. This week we saw high up to 144.45 and lead tested 20 weeks average around those level and then sink off.
From long term view, mcx lead given bearish breakdown below 154 and on downside first bearish target was around 137.5 which is done by lead future and now taken support around those levels and bouncing back towards 154 rupee level. Below 137.5, next long term support as well as next bearish target will be around 115. That will happen if lead prices breaks below 137 and sustain below it then expect 115 levels for sure.
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