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MCX Lead pullback of its previous fall

MCX Lead pullback of its previous fall


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.
 
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