Lead future daily chart technical analysis
Lead future on Friday closed at 140 with gain. In this week we saw both side move, first lead future hit low around 135 and achieved sell side target of 136 and then taken support at 136 and hit recovery target of 140.5. Now watch for 140.5 level closely for bullish breakout and above it expect 145 and then 149 rupee targets in this month. Daily chat price trend still down but indicators are with buy signal so keep long view with stop loss and expect upside levels.
Lead future weekly chart technical analysis
Mcx Lead future this week closed with huge gain. This was first weekly gain for lead future after last week’s strong sell off. This week we saw almost 6 rupee rally from low and lead prices hit 141+ high.
From long term view, mcx lead below 148.5 will remain weak and sell but current weekly chart price pattern suggesting recovery rally towards 148.5 from here and on downside 135 rupee bottom will remain crucial for traders. If lead prices gives breakout above 148.5 then expect 163 and above levels as investment targets.
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