Lead future daily chart technical analysis
Lead future on Friday closed at 142.4 with gains. Lead prices recovered from low of 136 rupee and hit high near 144 rupees. On daily chart lead prices are in recovery mode and inching towards major short term average with bullish signals on indicators. For month of January, mcx lead future above 141 rupee will remain buy and accumulate on dips for upside bullish targets of 146 and then 149.5 rupees. We already saw high of 144 rupees in this week. If prices slip below 141 rupee then expect downtrend and bearish levels up to 137.5 and then 132.5 rupees.
Lead future weekly chart technical analysis
Mcx Lead future this week closed with gain. This was first weekly gains for lead prices after last 2 weeks sell off. This week we saw recovery from 137 low to high above 144 rupees. On weekly char lead prices are in recovery phase and with bullish and bottomed out indicators. Prices are inching towards 148.5 rupee major average level.
From 2019 with long term view, mcx lead prices are recovering towards resistance zone of 148.7 rupee. Below 148.7, lead trend will remain weak and after bounce back is over we might see lower targets of 125 and then 110 rupees in this year. If prices gives breakout above 149 ad sustain then that will be long term buying opportunity for targets of 164 to 188 rupees.
Lead future monthly chart technical analysis
Mcx Lead future in month of December closed with gain. That was first gaining month for lead prices after last 4 months weakness. Here investors must watch 149 rupee level on weekly closing basis. Below that bearish trend will remain intact and expect fresh lows of 125 and then 110 rupees. But above it strategy will change to buy and accumulate with long term view.
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