EquityPandit’s Outlook for Lead for the week  (Nov 19, 2018 – Nov 23, 2018) :

LEAD:

LEAD closed the week on negative note losing around 4.60%.

As we have mentioned last week, that resistance for the commodity lies in the zone of 143 to 145 where Fibonacci levels and short term moving averages are lying. If the commodity manages to close above these levels then the commodity can move to the levels of 148 to 150 where Fibonacci levels and medium term moving averages are lying. During the week the commodity manages to hit a high of 145 and close the week around the levels of 138.

Support for the commodity lies in the zone of 135 to 137 where Fibonacci levels and low for the month of August-2018 is 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.

Minor resistance for the commodity lies in the zone of 140 to 141. Resistance for the commodity lies in the zone of 143 to 145 where Fibonacci levels and short term moving averages are lying. If the commodity manages to close above these levels then the commodity can move to the levels of 148 to 150 where Fibonacci levels and medium term moving averages are lying.

Broad range for the commodity in the coming week can be seen between 130 – 133 on downside & 145 – 148 on upside.