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
Lead LME Daily Forecast - 17 May 2013Lead 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.
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