Lead Nov Daily Chart Has Formed “Ascending Broadening Wedge” Pattern

Lead Nov Daily chart has formed “Ascending broadening wedge” pattern. The last few sessions ended up in sideways trend along with some corrections inside the channel.

The market is expected to continue on bearish momentum based on the current price action, once the same breaks below a key support holding at 153.50.

The downside rally could be testing all the way up to 152-151 levels in the upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish once again. The upside rally could test up to 158 level. Key resistance holds at 158.

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