LME Lead to Test Support at $ 1,630 Next Week

Nov 6, 2015 16:10

LME lead is predicted to test support at $ 1,630 per tonne next week, SMM reckons.

SHANGHAI, Nov. 6 (SMM) – LME lead is predicted to test support at $ 1,630 per tonne next week, SMM reckons.

LME lead falls below the 5-day moving average and makes no breakthrough for near half month. Besides, technical indicators signal that LME lead enters downside track.

SHFE 1512 lead should continue to test 13,000 yuan per tonne next week with technical indicators pointing downside. And SHFE lead will struggle around 12,800 yuan per tonne should SHFE 1512 lead break below 13,000 yuan per tonne.

Chinese spot lead prices should fall to 13,000-13,200 yuan per tonne next week because of growing supply.

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LME lead price forecast

SHFE lead prices

spot lead price forecast

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LME Lead to Test Support at $ 1,630 Next Week

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