MTECHTIPS MCX LEAD WEEKLY trading analysis 11-05-2015
Mcx lead future on last trading session closed at 130.45 with loss. on daily chart corrective round top is formed and indicators are with bearish pattern suggesting downside for this metal in next week. for next week, watch 128 level if breaks it and gives closing blow 128 then expect large drop in prices up to 120 rupee and below. above 128 on sustainable basis keep long view for higher targets.mcx lead future this week closed with loss. this was first weekly loss for this base metals after last 6 weeks bull run. in last 6 weeks mcx lead future prices soared from 111 low to 138 rupees high. this week mcx lead future high was at 138.4 while low was 130. total 8 rupee or 6%+ volatility for base metal. weekly chart price as well indicators pattern suggesting correction phase for next 2-4 weeks period.