Weekly Outlook for Precious Metal, Energy and Metals (10/04/2017 to 14/04/2017)

DATE: 07/04/2017
WEEKLY OUTLOOK FOR
PRECIOUS METAL, ENERGY
AND
METALS
(10/04/2017 - 14/04/2017)
© 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 (28684) closed the week on positive note gaining around 0.80%.
As we have mentioned last week that 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
28404 and close the week around the levels of 28684.
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.
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 28200 - 28300 on
downside & 29000 - 29100 on upside.

SILVER (41379) closed the week on negative note losing around 2.20%.
As we have mentioned last week that 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. During the week the commodity manages to hit a low of 41128 and
close the week around the levels of 41379.
Support for the commodity lies in the zone of 41000 to 41200 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 40700 to 40800 where Fibonacci level is lying.
Minor resistance for the commodity lies in the zone of 41500 to 41600. 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 (376.05) closed the week on negative note losing around 1.20%.
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. During the week the commodity manages to
hit a low of 371 and close the week around the levels of 376.
Support for the commodity lies in the zone of 375 to 376 where Fibonacci level is lying. If the
commodity manages to close below these levels then the commodity can drift to the levels of
370 to 372 where long term Fibonacci level is lying. Below these levels the commodity can
drift to the levels of 362 to 364 where the commodity has taken support in the month of
November-2016 and December-2016.
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 (171.95) closed the week on a negative note losing around 4.70%..
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. During the week the commodity manages
to hit a low of 171 and close the week around the levels of 172.
Support for the commodity lies in the zone of 168 to 170 where 200 Daily MA is lying. If the
commodity manages to close below these levels then the commodity can drift to the levels of
164 to 166 where Fibonacci level and low for the month of December-2016 is lying.
commodity lies in the zone of 179 to 180 where Fibonacci level is lying. If the commodity
manages to close above these levels then the commodity can move to the levels of 184 to 186
where short & medium term moving averages are lying.
ZINC

LEAD (145.15) closed the week on negative note losing around 3.00%.
As we have mentioned last week that minor resistance for the commodity lies in the zone of
151 to 152. Resistance for the 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. During the week the commodity manages to hit a high of 152 and close the
week around the levels of 145.
Support for the commodity lies in the zone of 142 to 144 where Fibonacci levels are lying. If
the commodity manages to close below these levels then the commodity can drift to the
levels of 140 to 141 where 200 Daily MA is lying.
Resistance for the commodity lies in the zone of 147 to 149 from where the commodity
broke down after consolidation and Fibonacci level is lying. If the commodity manages to
close above these levels then the commodity can move to the levels of 152 to 154 where
short & medium term moving averages and Fibonacci levels are lying.
downside and 150 - 152 on upside.
LEAD

NICKEL (656.80) closed the week on positive note gaining around 2.60%.
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 673 and
Minor support for the commodity lies in the zone of 648 to 652. 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 (125.75) closed the week on negative note losing around 0.40%.
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 123.90 and close the week around the levels of 125.75.
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 123.50 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.
Minor resistance for the commodity lies in the zone of 126.50 to 127. Resistance for the
commodity lies in the zone of 128. 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 (3359) closed the week on a positive note gaining around 2.30%.
As we have mentioned last week that 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. During the week the commodity manages to hit a low of 3268 and
Minor support for the commodity lies in the zone of 3300 to 3330. Support for the
commodity lies in the zone of 3230 to 3270 where Fibonacci level and 200 Daily MA 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 3400 to 3430 where short term moving
average and Fibonacci level is lying. If the commodity manages to close above these levels
then the commodity can move to the levels of 3470 to 3500.
CRUDE OIL

NATURAL GAS (210.00) closed the week on a positive note gaining around 2.00%.
As we have mentioned last week that minor resistance for the commodity lies in the zone of
207 to 208. Resistance for the 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. During the week the commodity manages to hit a high of 218 and
Minor support for the commodity lies in the zone of 206 to 208. 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.
Resistance for the commodity lies in the zone of 215 to 217 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 221 to 223 where 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
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will vary accordingly.

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