New Chart Analysis Thread, page-38

Just going through my charts and come across the below lead chart. It's a monthly chart and August bar closes next Saturday morning. It appears that lead signals a significant monthly bottom with a hammer candle. The significance of this months candle is that it is currently green, which is historically very rare. Pb has been making higher lows since 2020. Pb is currently trading in wedge pattern (triangle) and depending on which peak you measure from give a long term target as follows;

April 2011 high = $3,750
Feb 2018 High = $3,500
2010 to 2011 89% rally = $3,625 from the August 2024 bottom

As at the August 2024 candle, the breakout level is around $2,460. The highest monthly close for Pb of significance is as follows;

$2,293 - Dec 2022
$2,416 - Mar 2022
$2,612 - Jan 2018
$2,698 - Mar 2011

So a monthly close over each of the above dates adds significance to the upside. The first monthly close that warns of an impending bullish breakout would be a monthly close above $2,293 ($2,300 rounded). Then $2,416 and finally a monthly close above the down sloping trendline currently sitting at $2,460.