Technical: Lead MCX: Bull Market Rally Emerging

Dated 17/08/2017

Lead C1 Chart View: Bull Market Rally emerging

Breakout above the peak of 154.35 (October 2007) was witnessed in November 2016.

The high registered was 175.70.


Correction was seen to 132.30 (May 2017).


Expect the current rally to test the new peak of 175.70 formed in November 2016.

In the event of a breakout and close above 176 in time to come a bull market rally will be confirm for 202 and 224.

Support will be at 155-151-147.

A rally to test 175 is likely in near term to short term.

Conclusion

Bull Market Rally emerging