EquityPandit’s Outlook for Lead for the week  (Oct 30, 2017 – Nov 03, 2017) :

LEAD:

LEAD closed the week on negative note losing around 1.90%.

As we have mentioned last week, that support for the commodity lies in the zone of 158 to 160 where Fibonacci levels are lying. If the commodity manages to close below these levels then the commodity can drift to the levels of 154 to 156 where Fibonacci levels and short term moving averages are lying. During the week the commodity manages to hit a low of 157 and close the week around the levels of 157.

Support for the commodity lies in the zone of 154 to 156 where Fibonacci levels and short term moving averages are lying. If the commodity manages to close below these levels then the commodity can drift to the levels of 150 to 152 where Fibonacci levels and long term moving averages are lying.

Resistance for the commodity lies in the zone of 159 to 161 where Fibonacci levels are lying. If the commodity manages to close above these levels then the commodity can move to the levels of 166 to 168 where long term Fibonacci levels are lying.

Broad range for the commodity in the coming week can be seen between 148 – 150 on downside & 166 – 168 on upside.