Weekly Outlook for Precious Metal, Energy and Metals (03/04/2017 to 07/04/2017)

DATE: 31/03/2017
WEEKLY OUTLOOK FOR
PRECIOUS METAL, ENERGY
AND
METALS
(03/04/2017 - 07/04/2017)
© EquityPandit Financial Services Pvt. Ltd. | www.equitypandit.com | info@equitypandit.com
Jagrut Shah Darpan Shah
Sr. Research Analyst Head - Research
EquityPandit Financial Services Pvt. Ltd.
305, Trinity Business Centre, L. P. Savani Road,
Surat - 395009
Gujarat
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www.equitypandit.com

GOLDPAGE 2
GOLD (28463) closed the week on a negative note losing around 1.15%.
As we have mentioned last week that minor support for the commodity lies in the zone of
28600 to 28650. Support for the commodity lies in the zone of 28400 to 28500 from where
the commodity broke out. If the commodity manages to close below these levels then the
commodity can drift to the levels of 28100 to 28200 where Fibonacci level and short term
bottom is lying. During the week the commodity manages to hit a low of 28420 and close the
week around the levels of 28463.
Support for the commodity lies in the zone of 28400 to 28500 from where the commodity
broke out. If the commodity manages to close below these levels then the commodity can
drift to the levels of 28100 to 28200 where Fibonacci level and short term bottom is lying.
Minor resistance for the commodity lies in the zone of 28550 to 28625. Resistance for the
commodity lies in the zone of 28900 to 29000 where Fibonacci levels and lows for the month
of February-2017 are lying. If the commodity manages to close above these levels then the
commodity can move to the levels of 29300 to 29400 from where the commodity sold off in
the month of March-2017.
Broad range for the commodity in the coming week can be seen between 28000 - 28100 on
downside & 28900 - 29000 on upside.

SILVER (42326) closed the week on a positive note gaining around 1.90%.
As we have mentioned last week that minor resistance for the commodity lies in the zone of
41700 to 41800. Resistance for the commodity lies in the zone of 42200 to 42300 where
Fibonacci level is lying. If the commodity manages to close above these levels then the
commodity can move to the levels of 43000 to 43100 where 200 Daily SMA is lying. During the
week the commodity manages to hit a high of 42440 and close the week around the levels of
42326.
Minor support for the commodity lies in the zone of around 41800 to 41900. Support for the
commodity lies in the zone of 41500 to 41600 from where the commodity broke out. If the
commodity manages to close below these levels then the commodity can drift to the levels of
41000 to 41200 from where the commodity broke out after consolidation.
Resistance for the commodity lies in the zone of 42200 to 42300 where Fibonacci level is
lying. If the commodity manages to close above these levels then the commodity can move to
the levels of 43000 to 43100 where 200 Daily SMA is lying.
SILVER

COPPER (380.75) closed the week on absolutely flat note.
384 to 385. Resistance for the commodity lies in the zone of 388 to 390 where Fibonacci
levels are lying. If the commodity manages to close above these levels then the commodity
can move to the levels of around 393 to 395 where short term moving averages are lying.
During the week the commodity manages to hit a high of 389 and close the week around the
levels of 381.
Support for the commodity lies in the zone of 380 to 382 where the commodity has taken
support on couple of occasions. If the commodity manages to close below these levels then
the commodity can drift to the levels of 375 to 376 where Fibonacci level is lying. Below
these levels the commodity can drift to the levels of 370 to 372 where long term Fibonacci
level is lying.
commodity lies in the zone of 388 to 390 where Fibonacci levels are lying. If the commodity
manages to close above these levels then the commodity can move to the levels of around
393 to 395 where short term moving averages are lying.
COPPER

ZINC (180.40) closed the week on a negative note losing around 2.15%..
As we have mentioned last week that resistance for the commodity lies in the zone of 187 to
188. Resistance for the commodity lies in the zone of 194 to 196 where trend-line joining
earlier highs is lying. If the commodity manages to close above these levels then the
commodity can move to the levels of around 200 to 202 where top formed in the month of
November-2016 is lying. During the week the commodity manages to hit a high of 186 and
close the week around the levels of 180.40.
Support for the commodity lies in the zone of 176 to 178 from where the commodity broke
out after consolidation and Fibonacci levels are lying. If the commodity manages to close
below these levels then the commodity can drift to the levels of 168 to 170 where 200 Daily
SMA is lying,
Resistance for the commodity lies in the zone of 183 to 184. Resistance for the commodity
lies in the zone of 187 to 189 where the commodity has formed a short term top. If the
commodity manages to close above these levels then the commodity can move to the levels
of around 193 to 195 where trend-line joining earlier highs is lying.
ZINC

LEAD (149.70) closed the week on negative note losing around 2.30%.
As we have mentioned last week that support for the commodity lies in the zone of 148 to
150 where Fibonacci level and medium term moving averages are lying. If the commodity
manages to close below these levels then the commodity can drift to the levels of 142 to 144
where Fibonacci levels are lying. During the week the commodity manages to hit a low of
147.80 and close the week around the levels of 149.70.
Support for the commodity lies in the zone of 148 to 150 where Fibonacci level is lying. If the
commodity manages to close below these levels then the commodity can drift to the levels of
142 to 144 where Fibonacci levels are lying.
commodity lies in the zone of 154 to 155 from where the commodity broke down and
Fibonacci levels are lying. If the commodity manages to close above these levels then the
commodity can move to the levels of 159 to 161 where Fibonacci levels are lying.
downside and 154 - 156 on upside.
LEAD

NICKEL (640.10) closed the week on a negative note losing around 0.65%.
As we have mentioned last week that resistance for the commodity lies in the zone of 655 to
657 from where the commodity broke down after consolidation. If the commodity manages
to close above these levels then the commodity can move to the levels of 675 to 680 where
Fibonacci level is lying. During the week the commodity manages to hit a high of 653 and
close the week around the levels of 640.
Support for the commodity lies in the zone of 635 to 640 where the commodity has formed a
bottom in the month of January-2017. If the commodity manages to close below these levels
then the commodity can drift to the levels of 625 to 627 where the commodity has formed a
low in the month of March-2017.
Resistance for the commodity lies in the zone of 655 to 657 from where the commodity
broke down after consolidation. If the commodity manages to close above these levels then
the commodity can move to the levels of 675 to 680 where Fibonacci level is lying.
NICKEL

ALUMINIUM (126.20) closed the week on absolutely flat note.
As we have mentioned last week that minor support for the commodity lies in the zone of 125
to 125.50. Support for the commodity lies in the zone of around 123 to 124 from where
commodity broke out after consolidation, Fibonacci level 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 120 to 121 where Fibonacci level is lying. During the week the commodity
manages to hit a low of 124 and close the week around the levels of 126.20.
Minor support for the commodity lies in the zone of 125 to 125.50. Support for the commodity
lies in the zone of around 123 to 124 from where commodity broke out after consolidation,
Fibonacci level 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 120 to 121 where Fibonacci
level is lying.
Resistance for the commodity lies in the zone of 126.50 to 127 where trend-line joining highs
of 128.25 and 127.45 is lying. If the commodity manages to close above these levels then the
commodity can move to the levels of 129 to 130 where the commodity has formed a high in
the month of August-2013 and November-2014.
downside and 128 - 129 on upside.
ALUMINIUM

CRUDE OIL (3284) closed the week on a positive note gaining around 4.50%.
3170 to 3180. Resistance for the commodity lies in the zone of 3210 to 3230 where
Fibonacci level is lying. If the commodity manages to close above these levels then the
commodity can move to the levels of 3260 to 3280 where 200 Daily SMA is lying. During the
week the commodity manages to hit a high of 3288 and close the week around the levels of
3284.
Minor support for the commodity lies in the zone of 3240 to 3260. Support for the
commodity lies in the zone of 3200 to 3220 where Fibonacci level and break out levels are
lying. If the commodity manage to close below these levels then the commodity can drift to
the levels of 3160 to 3180 from where the commodity broke out after consolidation.
Resistance for the commodity lies in the zone of 3260 to 3280 where 200 Daily SMA is lying.
If the commodity manages to close above these levels then the commodity can move to the
levels of 3320 to 3340 where Fibonacci level is lying.
CRUDE OIL

NATURAL GAS (205.80) closed the week on a positive note gaining around 2.75%.
As we have mentioned last week that support for the commodity lies in the zone of 194 to
196 from where the commodity broke out after consolidation. If the commodity manages to
close below these levels then the commodity can drift to the levels of 188 to 190 where
Fibonacci level is lying. During the week the commodity manages to hit a low of 196 and
close the week around the levels of 205.80.
Support for the commodity lies in the zone of 201 to 203 where Fibonacci level and 200
Daily SMA is lying. Support for the commodity lies in the zone of 194 to 196 from where the
commodity broke out after consolidation. If the commodity manages to close below these
levels then the commodity can drift to the levels of 188 to 190 where Fibonacci level is lying.
commodity lies in the zone of 210 to 212 where medium term moving averages and
Fibonacci levels are lying. If the commodity manages to close above these levels then the
commodity can move to the levels of 215 to 217 where long term Fibonacci level is lying.
NATURAL GAS

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mentioned. No representations can be made that the recommendations contained herein will be profitable or
that they will not result in losses. Readers using the information contained herein are solely responsible for
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