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Friday, August 19, 2011

Technical Analysis - Lead


Lead's strong rebound has stalled but is it too early to say that prices are about to fall again - it may be that prices are just pausing ahead of embarking on a second up leg.

Judging by the strong rise in the stochastics we would not be surprised by another upleg. The MACD has also started to move sideways so that could turn higher too - although it is too early to say that it will.

Given the chart picture and mixed technical indicators, we feel this is a situation where it is best to remain on the sidelines.

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