Lead (30.7.2014) moved up with other base metals & topped out at resistance.
Now Lead is trading at 2226 on LME & as we can see on charts, lead was able to produce a negative candlestick pattern after touching the topline of short term channel . The top line was represent 161.8% correction are of last minor bullish wave. However the reversal yesterday already touched the support zone but downtrend probably continue for coming trading session.
On fundamental side,, some off beat data like pending home sales , may put pressure on base metals.
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Based on above studies, we will prefer to sell lead for some possible targets around 2179 & then 2152. A day close above 2312 will force us to reanalyze the charts.
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