SHUBHLAXMI NCDEX

As can be observed from the daily chart, MCX Lead is falling in a downward channel. At the low of 72.55, it took support at the lower end of the channel. The next destination for the base metal is the upper channel line. Recently the metal consolidated for a couple of sessions. The current leg i.e. the move that has started post the correction will target for the equality with the previous up move i.e. 90. After meeting the target of equality at 92 the next target will be the upper channel line. The daily KST has entered the positive territory and is moving higher. This indicates that the momentum will assist the bulls in hitting the above-said targets. On the other hand if the low of the consolidation i.e. 78.8 is breached, it will be a bearish development.