Adjacent chart shows price movement of MCX Lead continuous contract. Lead is witnessing a pullback of its previous fall. Currently, it has retraced 50% of its previous fall. If it sustains above 161.90, then the pullback can extend higher towards 164 – 167.85 in the forthcoming trading sessions. On the way down, 157.65 – 154.25 will provide support. A break below 154.25 will indicate then the pullback is over and next leg of down move is likely start. The daily momentum indicator has turned bullish.
 

MCX Lead pullback of its previous fall

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