EquityPandit’s Outlook for Lead for the week  (Dec 24, 2018 – Dec 28, 2018) :

LEAD:

LEAD closed the week on negative note losing around 1.70%.

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 141 and close the week around the levels of 138.

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 127 to 130 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 148 where Fibonacci levels and long 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.