Lead leading down

The chart shows the price movement of MCX Lead (2ndmonth continuous chart). From the low of 105.2, lead formed a sharp rally. It retraced nearly 78.6% of the entire previous fall. However, near the key Fibonacci level, the bears opened a fresh round of selling. As a result from that key Fibonacci level, lead has started tumbling down once again. Thus, an upside, from a short- to mediumterm perspective, looks caped at the recent high of 128.90. The base metal is falling along with a short-term falling trendline. The reversal for the bearish view can be placed at 125 on a closing basis. The short-term target on the downside is at 115.5.


Shubhlaxmi Commodity is a Free portal where you are provided all market such as Commodity stocks futures and Currency Like USD To INR and internatinol live market prices and live charts and Free support and resistance level

Post A Comment: