EquityPandit’s Outlook for Lead for the week  (Jan 07, 2019 – Jan 11, 2019) :

LEAD:

LEAD closed the week on negative note losing around 4.10%.

As we have mentioned last week, that support for the commodity lies in the zone of 140 to 142 where Fibonacci levels and short term moving averages are lying. If the commodity manages to close below these levels then the commodity can drift to the levels of 133 to 135 where low for the month of November-2018 is lying. During the week the commodity manages to hit a low of 135 and close the week around the levels of 137.

Support for the commodity lies in the zone of 133 to 135 where low for the month of November-2018 is lying. If the commodity manages to close below these levels then the commodity can drift to the levels of 129 to 131 where long term Fibonacci levels are lying.

Resistance for the commodity lies in the zone of 140 to 142 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 145 to 147 where Fibonacci levels and long term moving averages are lying.

Broad range for the commodity in the coming week can be seen between 128 – 130 on downside & 143 – 145 on upside.