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From : Commodities Daily Hotline: 17 April 2014
Chart of the day: Lead

The Lead LME 3 Months Contract tests its short term downtrend as it broke above its 200-day MA. We note resistance at 2,190 and 2,168 from the February and March highs respectively, should it sustain its break. However, as it failed to make a lower low in April, we note potential short term price and relative bases forming as it has yet to become overbought.






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