MCX Report : 16th August 2018

MCX METALS AND ENERGIES MARKET VIEWS

Lead August 2018: (previous day close/CMP Rs.139.65):

Bullish over 140.40 with 143.00 and 147.80 as price target.

Bearish below 138.60 with 135.60 and 131.70 as price target.

Neutral Zone: 138.60-140.40

One Support: 135.60

One Resistance: 143.00

o      Lead can fall to 131.60 as long as it trades below 141.40.

o      Lead needs to trade over 131.40 to rise further.

Natural gas 28^th August 18 (previous day close/CMP Rs.206.30):

Bullish over 202.60 with 211.10 and 219.00 as price target.

Bearish below 199.60 with 193.90 as price target.

Neutral Zone: 199.60-202.60

One Support: 204.10

One Resistance: 210.30

o      100% retracement is at 209.00.

o      A break of 209 will trigger a rise to 214.20 and 221.

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