EquityPandit’s Outlook for Lead for the week  (June 27, 2017 – June 30, 2017) :

LEAD:

LEAD (142.85) closed the week on positive note gaining around 5.50%.

As we have mentioned last week that resistance for the commodity lies in the zone of 139 to 140 where long term Fibonacci level is lying. If the commodity manages to close above these levels then the commodity can move to the levels of 142 to 144 where Fibonacci level and short & 200 Daily moving averages are lying. During the week the commodity manages to hit a high of 143 and close the week around the levels of 143.

Support for the commodity lies in the zone of 139 to 140 where long term Fibonacci level is lying. If the commodity manages to close below these levels then the commodity can drift to the levels of 135 to 137 where break out levels for the commodity is lying.

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.

Broad range for the commodity in the coming week can be seen between 135 – 137 on downside & 150 – 152 on upside.