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MCX Lead bounced back from the medium term support line.

MCX Lead bounced back from the medium term support line.


Adjacent chart shows price movement of MCX Lead continuous contract. In Tuesday’s trading session, Lead bounced back from the medium term support line. In the near term, 150 – 152 will act as crucial support on the way. If Lead holds above the support zone then a bounce towards 160.50 - 161.50 is possible in the near term. However, Lead can witness a deeper correction if it breaks below the support zone of 150 - 152. The daily momentum indicator is bearish.
 
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