Technical forecast for Lead

lead3

Lead surprised with a break through 2011/14 & a close above 2032. We now need to push through 2050 to target 2062/66 for a selling opportunity with the short term charts looking overbought at this stage. We need stops above 2080 on shorts for a move to 2100.

Immediate support is 2030/28 but below here sees better support at 2014/11 which could hold the downside today. However if we continue lower look for 1990/88.

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