MONDAY
WEEKLY UPDATE
Mcx Lead last week dropped below its channel and tested low of 107.5 levels and on week
end closing prices recovered back to close at 112 levels from 107.5 levels, technical
shows that prices has already formed double top at 116, last trading day candle shows
bullish engulf which in technical terms actually means bullish but over all scenario
for the commodity remains bearish so we expect correction to take place on higher levels.
Wait for entries :
immediate supports at 111 , 109 and 107.5,
resistance 114 and 116.
