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Lead Approaching End Of Correction

Published 12/24/2016, 06:29 AM
Updated 07/09/2023, 06:32 AM
MLD
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Here is what I said about lead on 19th Of December. That days's chart is reproduced below:
Lead December 19 Daily Chart

Here is what I said on 7th December. Daily chart reproduced below.
Lead December 7 Daily Chart

Now look towards the latest deveolpment on updated daily chart followed by 5 hr chart. Here is the daily chart with with latest deveolpments.

Lead Daily Chart

We have reached our primary target areas (did a low of 2055 at the time of writing) and now towards our final objective of 1970-2000 area, where we will have to reanalyze the charts again for further continutaion of corrective phase or any impulsive move to launch prices much higher. Till then, wait and watch with current bearish move.

Here is the 5 hr chart:
Lead 5 Hour Chart

Smalller time frame chart is indicating a consolidation and an upwards corrective bounce before resuming the current trend

Resistance: 2180/2240
Support: 2000/1930

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