EquityPandit’s Outlook for Lead for the week  (May 14, 2018 – May 18, 2018) :

LEAD:

LEAD closed the week on positive note gaining around 2.00%.

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 159 and close the week around the levels of 159.

Minor support for the commodity lies in the zone of 153 to 155. 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 and medium & long term moving averages 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 147 – 150 on downside & 168 – 170 on upside.