EquityPandit’s Outlook for Lead for the week  (July 03, 2017 – July 07, 2017) :

LEAD:

LEAD (147.20) closed the week on positive note gaining around 3.00%.

As we have mentioned last week that resistance for the commodity lies in the zone of 143 to 145 where medium & 200 Daily 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 are lying. During the week the commodity manages to hit a high of 150 and close the week around the levels of 147.

Support for the commodity lies in the zone of 143 to 145 where medium & 200 Daily moving averages are lying. If the commodity manages to close below these levels then the commodity can drift to the levels of 139 to 140 where long term Fibonacci level is lying.

Resistance for the commodity lies in the zone of 148 to 150 where Fibonacci levels are lying. If the commodity manages to close above these levels then the commodity can move to the levels of 152 to 154 where Fibonacci levels and highs for the month of April-2017 are lying.

Broad range for the commodity in the coming week can be seen between 140 – 142 on downside & 152 – 154 on upside.