MTECHTIPS MCX LEAD INTRADAY trading tips 05-06-2017

MTECHTIPS MCX LEAD INTRADAY trading tips 05-06-2017
MTECHTIPS Mcx lead future in month of May closed at 136.4 with loss. This was forth weak month for lead prices and in these 4 months prices tumbled from top of 165 to low of 132. This month aluminium future recorded low at 132 while high was around 147. Total 15 rupee or 10% range and closing near low with bearish outlook. or month of June 2017, mcx lead future outlook remain bearish below 138.6 level. Daily chart price pattern is bullish but indicators are bearish and suggesting downside for this commodity in June series. Below 138.6 my mcx lead positional sell targets are 130 and then 124. Expect first bounce back towards 138.6 and then downside move. If breakout happens above 138.6 with strong price action and on volume then above 138.6, then remain bullish and might head towards 145 and 153. Base metal Commodity traders below 138.6 go short with stop loss above major top of 143 and keep targets at 130 and then 124 for month of June 2017. From long term view, lead future hit my given corrective target of 140 rupee and now trading below it with bearish trend and momentum and heading towards 2017 bearish target of 105 rupees.

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