Lead MCX Hard Resistance Levels at 124.50 – 124.90

Lead MCX Hard Resistance Levels

Gold Silver Reports ~ Lead MCX tumbled sharply in the beginning of January. However, it posted a positive daily close after seven consecutive negative sessions and entered a pull-back mode. In terms of wave structure, it completed the third leg of an expanded flatpattern and started its next leg up. This leg is breaking up into lower degree waves. On the way up, lead crossed a crucial falling trendline. Shortterm as well as mediumterm momentum indicators are in line with sharp rally. However, lead has now halted near the upper end of the rising channel.

It almost retraced 61.8% of the previous fall. Thus, Rs 124.50- 124.90 will now act as a crucial~resistance Levels zone. On the other hand, a key support for a minor degree correction will be Rs 120.

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