MCX Lead with Elliott Wave Impulse

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 MCX Lead hourly continuous chart 


As shown in the above chart, prices are moving in a sideways direction and the base metal is contracting, seen by two trend lines. 

From waves perspective, prices are moving in an impulse fashion, where it has completed wave i followed by wave ii in a flat pattern and different from wave iv as wave iv is in symmetrical triangle pattern. Wave iii is longer than wave i and so wave v is pending on the upside.

The summation is MCX Lead can surge till 183-185 levels once it crosses the level of 179.8 decisively.

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