EquityPandit’s Outlook for Lead for the week  (Jan 15, 2018 – Jan 19, 2018) :

LEAD:

LEAD closed the week on negative note losing around 0.20%.

As we have mentioned last week, that minor resistance for the commodity lies in the zone of 162 to 163. Resistance for the commodity lies in the zone of 166 to 168 where long term Fibonacci levels are lying. If the commodity manages to close above these levels then the commodity can move to the levels of 170 to 172 where the commodity has formed a top in the month of October-2017. During the week the commodity manages to hit a high of 166 and close the week around the levels of 162.

Minor support for the commodity lies in the zone of 157 to 158. Support for the commodity lies in the zone of 152 to 154 where Fibonacci levels are lying. If the commodity manages to close below these levels then the commodity can drift to the levels of 148 to 150 where Fibonacci levels and long term moving averages are lying.

Minor resistance for the commodity lies in the zone of 162 to 163. Resistance for the commodity lies in the zone of 166 to 168 where long term Fibonacci levels are lying. If the commodity manages to close above these levels then the commodity can move to the levels of 170 to 172 where the commodity has formed a top in the month of October-2017.

Broad range for the commodity in the coming week can be seen between 150 – 152 on downside & 168 – 170 on upside.