MTECHTIPS MCX LEAD INTRADAY trading analysis 16-06-2016
DAILY:- Mcx lead sliding down use 115.5 to 116 zone to go short with stoploss. Expect downside up to 112.9.
WEEKLY :- Mcx lead future this week closed with loss at 114.3. After last 2 weeks strong rally, lead prices saw high level up to 118.3 and sees strong supply from market. Mcx lead weekly chart price trend is flat but momentum is in bears hands. For next week, mcx lead below 115 remain sell and downside targets are 111.5 and 109.3. On upside 115 and 118 are strong resistances. If sustain above 115 then it will be reversal buy signal for targets 118 and 120. Commodity traders can hold short positions with strict trailing stop loss above 116 for targets 111.5 and 109.3 in next week.