EquityPandit’s Outlook for Lead for the week  (May 07, 2018 – May 11, 2018) :

LEAD:

LEAD closed the week on negative note losing around 0.70%.

As we have mentioned last week, that resistance for the commodity lies in the zone of 158 to 160 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 from where the commodity has sold off. During the week the commodity manages to hit a high of 158 and close the week around the levels of 156.

Minor support for the commodity lies in the zone of 152 to 153. Support for the commodity lies in the zone of 146 to 150 where Fibonacci levels are lying. If the commodity manages to close below these levels then the commodity can drift to the levels of 139 to 142 where Fibonacci levels are lying.

Resistance for the commodity lies in the zone of 158 to 160 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 from where the commodity has sold off.

Broad range for the commodity in the coming week can be seen between 145 – 147 on downside & 166 – 168 on upside.