EquityPandit’s Outlook for Lead for the week  (June 04, 2018 – June 08, 2018) :

LEAD:

LEAD closed the week on positive note gaining around 0.30%.

As we have mentioned last week, that support for the commodity lies in the zone of 158 to 161 where medium & long term moving averages are lying. If the commodity manages to close below these levels then the commodity can drift to the levels of 146 to 150 where Fibonacci levels are lying. During the week the commodity manages to hit a low of 158 and close the week around the levels of 165.

Support for the commodity lies in the zone of 158 to 161 where medium & long 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 153 where low for the month of April-2018 & May-2018 and Fibonacci levels are lying.

Resistance for the commodity lies in the zone of 165 to 168 from where the commodity has broken down and Fibonacci levels are lying. If the commodity manages to close above these levels then the commodity can move to the levels of 170 to 172 where the commodity has formed a top in the month of February-2018 & May-2018.

Broad range for the commodity in the coming week can be seen between 150 – 155 on downside & 175 – 177 on upside.