Report For Date 1/2/2016
LME Lead: Expect Higher Range To Be Tested
LME Lead - (Price figures in $/Ton)
Expect higher range of 1739-1822 to be tested.
Cover short position if any at 1712 or below.
Downside momentum can continue on fall and weekly close below 1593.
Breakout and close above 1802 can confirm the W pattern breakout on weekly closing line chart.
Weekly Levels For LME Lead
STRATEGY
|
CLOSE
|
DRV
|
TREND
|
Trend Price
|
Trend Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Cover short
|
1712
|
1746
|
DOWN
|
1647
|
8.01
|
1573
|
1656
|
1684
|
1739
|
1822
|
Disclaimer: There is risk of loss in trading in derivatives and the report is not to be construed as investment advice. The information provided in this report is intended solely for informative purposes. The author, directors and other employees of CC Commodity Info Services cannot be held responsible for the accuracy of the information presented herein or for the results of the positions taken based on the opinions expressed above.