MTECHTIPS MCX LEAD INTRADAY trading analysis 28-06-2016
DAILY:- Mcx lead heading towards 113.3. Mcx lead future on Friday closed at 116 flat. Lead prices came off recent high of 118 and suggesting potential downside in short terms. Lead future might follow base metals corrective trend in upcoming weeks. Mcx lead daily chart, price trend is bullish but momentum looking weak which might result in trend change. Mcx lead daily chart support zones are 115.3 and 113.2. On upside 116.7 and 118.2 are strong resistances.
WEEKLY :- Mcx lead weekly chart, showing positive closing for week. This is second positive weekly closing for lead after hitting bottom at 109.8. On upside 117.2-118 is strong resistance zone and below it trend remain weak or sell. Lead weekly chart support zones are 114 and 110. On upside 117.2, 118.3 and 120.5 are resistances. Below 118 medium term outlook remain weak or sell.