EquityPandit’s Outlook for Lead for the week  (Nov 06, 2017 – Nov 10, 2017) :

LEAD:

LEAD closed the week on positive note gaining around 1.00%.

As we have mentioned last week, that support for the commodity lies in the zone of 154 to 156 where Fibonacci levels and short term moving averages are lying. If the commodity manages to close below these levels then the commodity can drift to the levels of 150 to 152 where Fibonacci levels and long term moving averages are lying. During the week the commodity manages to hit a low of 155 and close the week around the levels of 160.

Support for the commodity lies in the zone of 155 to 157 where Fibonacci levels and short term moving averages are lying. If the commodity manages to close below these levels then the commodity can drift to the levels of 150 to 152 where Fibonacci levels and long term moving averages are lying.

Resistance for the commodity lies in the zone of 159 to 161 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 where long term Fibonacci levels are lying.

Broad range for the commodity in the coming week can be seen between 150 – 152 on downside & 166 – 168 on upside.