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MCX Lead MCX Tips Commodity

Today Tips For MCX Lead

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Maxcommodity.com has come out with its report on MCX Lead. According to our research firm, the immediate supports for MCX lead are the 20-daily moving average (118) and the 40-daily exponential moving average (116.7). Overall, the short-term targets are Rs 114.71 and Rs 113, i.e. 50.00% and 61.7% retracement mark respectively.

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MCX Lead: A bearish breakout

MCX lead retraced 78.5% of the previous fall. It is made multiple attempts to cross the key Fibonacci level but the bears put up a strong resistance. Consequently, the rate has formed a distribution triangle and has broken on the downside. The daily strength signal is in support of the holds.

The immediate supports for MCX lead are the 20-daily moving average (118) and the 40-daily exponential moving average (116.7). Overall, the short-term targets are Rs 114.71 and Rs 113, i.e. 50.00% and 61.7% retracement mark respectively. The reversal can be trailed to 120.

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