MARKET TALK: LME 3-Month Lead $1,855; Eyed Near Key Support

LME 3-month lead quoted last $1,855/ton, up $15 from yesterday's low, and $5 above key support, says Standard Bank. In technical analysis, bank says if lead holds this level, validating a bullish view driven by recent price action, this provides platform for move to $1,990, then $2,060, with move possible to $2,280 "in a matter of weeks". But warns decline through $1,850 suggests "topside failure has occurred", turning outlook neutral, bringing primary near-term support at $1,720 into view.