Navigation

Lead Keep an eye Technical Chart on 19 Feb 2016



MCX lead formed a medium-term pullback in the last few months. In terms of wave structure, it formed a three wave pullback and halted near the upper end of the rising channel. It retraced 61.8% of the previous fall. At that level, the base metal formed an Ending Diagonal pattern and tumbled sharply in the last couple of sessions. The fall has brought the metal towards a crucial support zone, which is near Rs.117-116. Hereon, lead can once again start moving higher. From short-term perspective, Rs.122.50-123.00 will be the area to watch out for beyond which larger upside can be expected.
Share

Shubhlaxmi

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: