Technical Forecast for Lead

Lead tested & held Oct lows at 1979 last week. The short term picture looks more positive as we start this week. If we can hold above 2011 look for resistance at 2028/31. This level held us back on Thurs & Fri & is tough resistance so could hold again today. However a push higher encourages bulls to target 2046/47. We should hit sellers here & could top out for the day but shorts need a stop above 2062 for 2088/98. We could try shorts here with a stop above 2115.

 

Support at 1990 could hold again if tested but below here could see continued losses to 1964 then 1944/42.