Market Overview

Technical Forecast for Lead for 19th May 2013

Technical Forecast for Lead for 19th May 2013


Lead headed higher as hoped to tackle strong resistance at 2011/14. We did struggle here as expected & as stated on Friday, it may be wise to exit longs & try shorts from here up to 2026 with stops above 2032. A break higher could then target 2062/66 for a selling opportunity.  
Failure to beat 2026 could see us drift back to 1995. However this may not hold for long & could test support at 1975 which should hold the downside for profit taking on shorts. Below here, May lows at 1943/38 is our important support & should hold on a retest but a break risks a slide to 1904.

The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

Posted-In: Technicals Markets Trading Ideas


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