Technical forecast for Lead

lead

Lead tested & held Oct lows at 1979 last week. The short term picture looks more positive as we start this week. If we can hold above 2011 look for resistance at 2028/31. This level held us back on Thurs & Fri & is tough resistance so could hold again today. However a push higher encourages bulls to target 2046/47. We should hit sellers here & could top out for the day but shorts need a stop above 2062 for 2088/98. We could try shorts here with a stop above 2115.

Support at 1990 could hold again if tested but below here could see continued losses to 1964 then 1944/42.

Jason Sen began his career in the options pits on the trading floor of LIFFE in 1987 at the age of 19, making markets on his own account. In 2001 when the trading floor closed he successfully made the transition to day trading on computer screens. Jason always had an interest in technical analysis throughout his trading career but began to study this area in depth from 2006. www.daytradeideas.com has established itself as the leading provider of... More