EquityPandit’s Outlook for Lead for the week  (Oct 16, 2017 – Oct 19, 2017) :

LEAD:

LEAD (163.80) closed the week on negative note losing around 1.30%.

As we have mentioned last week, that minor support for the commodity lies in the zone of 162 to 164. Support for the commodity lies in the zone of 158 to 160 where Fibonacci levels are lying. If the commodity manages to close below these levels then the commodity can drift to the levels of 154 to 156 where Fibonacci levels and short term moving averages are lying. During the week the commodity manages to hit a low of 162 and close the week around the levels of 164.

Minor support for the commodity lies in the zone of 162 to 164. Support for the commodity lies in the zone of 158 to 160 where Fibonacci levels are lying. If the commodity manages to close below these levels then the commodity can drift to the levels of 154 to 156 where Fibonacci levels and short term moving averages are lying.

Minor resistance for the commodity lies in the zone of 166 to 168. Resistance for the commodity lies in the zone of 172 to 175 where life time high for the commodity is lying. If the commodity manages to close above these levels then the commodity can move to the levels of 178 to 180.

Broad range for the commodity in the coming week can be seen between 155 – 157 on downside & 173 – 175 on upside.