EquityPandit’s Outlook for Lead for the week  (Oct  08, 2018 – Oct 12, 2018) :

LEAD:

LEAD closed the week on positive note gaining around 1.70%.

As we have mentioned last week, that resistance for the commodity lies in the zone of 150 to 152 where Fibonacci levels and medium term moving averages are lying. If the commodity manages to close above these levels then the commodity can move to the levels of 154 to 156 where Fibonacci levels and long term moving averages are lying. During the week the commodity manages to hit a high of 152 and close the week around the levels of 148.

Minor support for the commodity lies around 144 to 146. Support for the commodity lies in the zone of 138 to 140 where long term Fibonacci levels are lying. If the commodity manages to close below these levels then the commodity can drift to the levels of 130 to 132 where long term Fibonacci levels are lying.

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

Broad range for the commodity in the coming week can be seen between 138 – 140 on downside & 155 – 158 on upside.