02-01-2026

Technical Analysis Report: Lead Futures (MCX)

Instrument: Lead Futures (MCX)

Timeframe: Weekly (1W)

Trend Structure: Consolidation within Ascending Triangle

Market Bias: Positive, pending breakout confirmation

Executive Summary

Lead Futures on MCX is currently consolidating after a strong prior uptrend, forming a well-defined ascending triangle pattern on the weekly chart. This type of consolidation typically reflects healthy digestion of gains rather than trend reversal. The price action suggests accumulation near rising support, indicating potential for a fresh upside move upon breakout.

At present, the market is in a wait-for-breakout phase, and directional conviction should be taken only after confirmation.

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02-01-2026

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