EquityPandit’s Outlook for Lead for the week  (Dec 17, 2018 – Dec 21, 2018) :

LEAD:

LEAD closed the week on negative note losing around 1.30%.

As we have mentioned last week, that resistance for the commodity lies in the zone of 143 to 145 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 148 to 150 where Fibonacci levels and long 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 140.

Support for the commodity lies in the zone of 137 to 139 where Fibonacci levels are lying. If the commodity manages to close below these levels then the commodity can drift to the levels of 130 to 133 where long term Fibonacci levels and low for the month of May-2017, June-2017 and November-2018 is lying.

Resistance for the commodity lies in the zone of 143 to 145 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 148 to 150 where Fibonacci levels and long term moving averages are lying.

Broad range for the commodity in the coming week can be seen between 132 – 135 on downside & 147 – 150 on upside.