Technical forecast for Lead

lead

Lead formed a double bottom pattern for a move higher as predicted & we beat resistance at 1975 to reach the 1995 target. Above here we could stretch to strong resistance at 2011/14 today. We should struggle here so may be wise to exit longs & try shorts from here up to 2026 with stops above 2032.

Support at 1975 should hold the downside. Below here, 1943/38 is our important support & should hold on a retest but a break risks a slide to 1904.

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