MCX Lead: Elliott Wave counts and forecasting

MCX Lead Daily chart (continuous)

After forming a higher high and higher low formation, prices have broken the rising channel (blue). This gives a bearish break in a rising channel.

From Wave perspective, prices have completed wave c in an ending diagonal pattern after forming wave b in a triangle pattern.

In short, the metal is expected to tumble further near till 155 levels where cluster of supports are placed.


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