EquityPandit’s Outlook for Lead for the week  (Dec 10, 2018 – Dec 14, 2018) :

LEAD:

LEAD closed the week on positive note gaining around 3.60%.

As we have mentioned last week, that 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. During the week the commodity manages to hit a high of 143 and close the week around the levels of 142.

Support for the commodity lies in the zone of 136 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 135 – 138 on downside & 147 – 150 on upside.