Technical forecast for Lead

lead1

Nickel looking oversold in the short term. We should bottom out & hold above 14609 lows now. If we can beat 15000 look for 15107 & possibly as far as 15194 today. Above here however we run in to tough resistance at 15222/280 which could cap a bounce this week. We cannot rule out a break higher though & would look for 15403 as the next target.

Longs need stops below 14600 as a break lower could then target 14120 in the days ahead.

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