EquityPandit’s Outlook for Lead for the week  (Mar 26, 2018 – Mar 28, 2018) :

LEAD:

LEAD closed the week on negative note losing around 1.80%.

As we have mentioned last week, that resistance for the commodity lies in the zone of 158 to 160 where Fibonacci levels are lying. If the commodity manages to close above these levels then the commodity can move to the levels of 164 to 166 where short & medium term moving averages are lying. During the week the commodity manages to hit a high of 158 and close the week around the levels of 153.

Support for the commodity lies in the zone of 146 to 150 where Fibonacci levels are lying. If the commodity manages to close below these levels then the commodity can drift to the levels of 139 to 142 where Fibonacci levels are lying.

Minor resistance for the commodity lies in the zone of 154 to 155. Resistance for the commodity lies in the zone of 158 to 160 where Fibonacci levels are lying. If the commodity manages to close above these levels then the commodity can move to the levels of 166 to 168 from where the commodity has sold off.

Broad range for the commodity in the coming week can be seen between 142 – 145 on downside & 160 – 163 on upside.