Technical forecast for Lead

lead2

Lead made it back up to our target of 2046/47 & as predicted this held the move. A break higher does look possible today however allowing bulls to feel more confident so any shorts here need a stop above 2052 for continued strength to 2062. A push through here could take us up to 2088/98 but this area could mark the high for the week if tested. Exit longs, sell in to shorts with a stop above 2113.

Support today at 2030 then 2011 could see a bounce but longs here need a stop below 2005 in case of a retest of 1990/80.

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