EquityPandit’s Outlook for Lead for the week  (Dec 03, 2018 – Dec 07, 2018) :

LEAD:

LEAD closed the week on negative note losing around 0.60%.

As we have mentioned last week, that 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. During the week the commodity manages to hit a high of 139 and close the week around the levels of 137.

Support for the commodity lies in the zone of 130 to 133 where long term Fibonacci levels and low for the month of May-2017 & June-2017 is lying. If the commodity manages to close below these levels then the commodity can drift to the levels of 125 to 127.

Resistance for the commodity lies in the zone of 140 to 143 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 146 to 148 where Fibonacci levels and long term moving averages are lying.

Broad range for the commodity in the coming week can be seen between 127 – 130 on downside & 144 – 147 on upside.