lead intraday

MCX Lead traded volatile and registered days high near 81.10, closed at 79.45 with minor loss . Intra day low registered near 78.15

Lead inventories at LME, increased by -725 MT to 95650 MT.

MCX Lead June -Technical outlook:

The daily stochastics have crossed over down which is a bearish indication. The prices closed below short term and medium term EMA, which supports bears. MACD is heading downwards in positive region, showing decrease in bullish momentum.

Technical are neutral to bearish signalling sideways to lower prices in the near term. Initial support for the market is around 78.0 levels. If broken can see further fall to 76.6 and 75.1, If market holds above 79.6 further rally can be seen towards 81.0 and 82.5

Recommendations –MCX Lead June: Sell at 80.20-80.50 Target 79 and 78 SL 81.65

MCXARUN
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