The analysis of the daily chart of MCX Lead reveals bullish developments. The base metal is forming a bullish price pattern called inverted head and shoulders pattern. The rise from 72.55 to 84.85 was a leading diagonal, whose 61.8% retracement has already been achieved. The daily MACD is in sync with the bullish formation. Near the equilibrium line, the momentum indicator has taken support at the nine-period moving average and is set for a new cycle up. Once Lead breaks out from the bullish pattern, the conservative head and shoulders pattern’s target will be 90. However, to reach the target Lead will have to overcome the hurdle of 21 daily exponential moving average (DEMA; 81.5) and 50DEMA (83). In case the right shoulder’s low i.e. 77 is broken, the reversal of the view can be assumed.