Metal’s Level Breaks

Good morning Traders!


The last couple of weeks saw buying returning into many metal markets, today I’d like to
take a look a Gold and Lead, both are trading near a strong resistance level.

Gold Finding Resistance at 1800

Gold has found resistance under the strong level of around 1800, this was also the major
swing Lower High on the way down, a break above this level could see the market testing
the next level at around 1870.


For a potential opportunity I am looking for either a bullish consolidation underneath the
level on the lower timeframes, with Equal Highs and Higher Lows, and then a break of this
level higher, or, a break and a retrace to test this level from above.


The monthly chart on the other hand is showing a cautious signs, where the market was
in a strong sell, and the move higher to the 1800 area, could simply be a pullback in the
context of the much higher timeframe strong selloff, and as this is the first time back at
this level, there could be a lengthier fight between the buyers and the sellers at this level.

Lead – Testing 2250 Again

Lead is once again coming to test its strong resistance level at 2250, on the weekly chart
we can see that the market has attempted this level several times, but each time got
rejected. In last attempt, sellers at that level could not push the price to a Lower Low
before the buyers stepped in again, printing a Higher Low.


Both Daily and Weekly charts are in a confirmed uptrend, and with price showing more
bullish momentum, I am looking for a potential break of this level, and a potential move
toward the next level around the 2350.

Happy Trading!

Tamar Mehr

Tamar Mehr is a professional trader, neuropsychological trading mentor, FXGlobe Ambassador, and decision-making expert. She’s based in Brisbane, Australia.

Trading Advice Disclaimer:
Our Ambassador’s Daily Picks are not trading advice. These are informational articles covering the events which happened in the market already & scheduled events which are scheduled to happen in the Economic & Earnings Calendar.

General Risk Warning:
Trading leveraged products such as Forex and CFDs carries a high level of risk thus may not be appropriate and/or suitable for all investors. The investment value can both increase and/or decrease and the investors may lose all their invested capital. The content of this website does not constitute financial or investment advice. Any information herein is of a general nature and does not take into consideration your personal circumstances, investment experience or current financial situation. Under no circumstances shall the Company or affiliated Companies have any liability to any person or entity for any loss or damage in whole or part caused by, resulting from, or relating to any transactions related to leveraged products.

Manutenção Programada do Portal do Cliente

Na FXGlobe, estamos empenhados em proporcionar-lhe a melhor experiência possível.

Para assegurar o desempenho contínuo e a fiabilidade do nosso Portal do Cliente, vamos realizar uma manutenção programada dos nossos servidores e uma actualização do sistema.

O que Esperar Após a Manutenção

Agradecemos pela visita a fxglobe.com

Esta página de internet não está direcionada para residentes na EU e sai do enquadramento regulatório Europeu e MiFID II.

Por falor seleccione abaixo se prentende seguir para a nossa pagina EU.