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MCX SEP LEAD MARKET RECOMMENDATION
Mcx lead sep expiry future last closing price was 108.8.
after hitting highs near 110 lead future started to consolidate and correct. on
daily chart mcx lead future closed just below weekly average but still way
above monthly and 3 month level so trend is up and momentum is also on buying
side but indicators are now started to comes down from overbought area. in next
week lead prices may correct upto 107 to 107.5! for next week mcx lead sep
future resistance levels are 109.4-109.95 and 111 while on downside supports
are 108-107.2 and 106.
weekly analysis:-
Mcx lead sep future this week closed with some losses after
last 2 weeks rally. medium-long term trend is bullish as prices trading above
major level.
TRADING VIEW:-
Day and short term traders should stay shorts with stoploss
for targets of 108 and below while
for medium and long term traders entry near 106 with
stoploss below 104 for target of 111 and above will lead trading strategy.
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