Adjacent chart shows price movement of MCX Lead continuous contract. In Tuesday’s trading session, Lead bounced back from the medium term support line. In the near term, 150 – 152 will act as crucial support on the way. If Lead holds above the support zone then a bounce towards 160.50 - 161.50 is possible in the near term. However, Lead can witness a deeper correction if it breaks below the support zone of 150 - 152. The daily momentum indicator is bearish.
