Weekly Outlook for Precious Metal, Energy & Metals (17/07/2017 - 21/07/2017)

DATE: 14/07/2017
WEEKLY OUTLOOK FOR
PRECIOUS METAL, ENERGY AND
METALS
(17/07/2017 - 21/07/2017)
© 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.
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GOLDPAGE 2
GOLD (27996) closed the week on positive note gaining around 0.80%.
As we have mentioned last week that the commodity has broken down from the long term
trend-line support. Support for the commodity lies in the zone of 27500 to 27600 where long
term Fibonacci levels are lying. If the commodity manages to close below these levels then
the commodity can drift to the levels of 26800 to 26900 where the commodity has formed a
bottom in the month of December-2016. During the week the commodity manages to hit a
low of 27603 and close the week around the levels of 27996.
The commodity has broken down from the long term trend-line support. Minor support for
the commodity lies in the zone of 27800 to 27850. Support for the commodity lies in the
zone of 27500 to 27600 where long term Fibonacci levels are lying. If the commodity
manages to close below these levels then the commodity can drift to the levels of 26800 to
26900 where the commodity has formed a bottom in the month of December-2016.
Resistance for the commodity lies in the zone of 27900 to 28000 where the commodity has
formed a bottom in the month of March-2017 & May-2017. If the commodity manages to
close above these levels then the commodity can move to the levels of 28200 to 28300 where
Fibonacci level is lying.
Broad range for the commodity in the coming week can be seen between 27500 - 27600 on
downside & 28300 - 28400 on upside.

SILVER (36970) closed the week on positive note gaining around 2.00%.
As we have mentioned last week that support for the commodity lies in the zone of 35500 to
35700 where the commodity has formed a bottom in the month of April-2016. If the
commodity manages to close below these levels then the commodity can witness a free fall
and can drift to the levels of 33500 to 34000. During the week the commodity manages to hit
a low of 35460 and close the week around the levels of 36970.
Minor support for the commodity lies in the zone of 36200 to 36400. Support for the
commodity lies in the zone of 35500 to 35700 where the commodity has formed a bottom in
the month of April-2016. If the commodity manages to close below these levels then the
commodity can witness a free fall and can drift to the levels of 33500 to 34000.
Resistance for the commodity lies in the zone of 36800 to 37000. If the commodity manages
to close above these levels then the commodity can move to the levels of 37500 to 37700
where long term Fibonacci levels are lying.
SILVER

COPPER (383.65) closed the week on positive note gaining around 0.90%.
As we have mentioned last week, that minor support for the commodity lies in the zone of
379 to 381. Support for the commodity lies in the zone of 375 to 376 where Fibonacci levels
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 370 to 372 where 200 Daily moving
averages and Fibonacci levels are lying. During the week the commodity manages to hit a low
of 376 and close the week around the levels of 384.
Minor support for the commodity lies in the zone of 379 to 381. Support for the commodity
lies in the zone of 375 to 376 where Fibonacci levels 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 370 to 372 where 200 Daily moving averages and Fibonacci levels are lying.
Resistance for the commodity lies in the zone of 385 to 387 where the commodity has
formed a top in the month of May-2017. If the commodity manages to close above these
levels then the commodity can move to the levels of 390 to 391 where Fibonacci levels are
lying.
COPPER

ZINC (179.30) closed the week on a negative note losing around 0.60%.
As we have mentioned last week, that support for the commodity lies in the zone of 178 to
180 where Fibonacci levels are lying. If the commodity manages to close below these levels
then the commodity can drift to the levels of around 173 to 174 where 200 Daily moving
averages and break out levels are lying. During the week the commodity manages to hit a low
of 177 and close the week around the levels of 179.
Support for the commodity lies in the zone of 178 to 180 where Fibonacci levels are lying. If
the commodity manages to close below these levels then the commodity can drift to the
levels of around 173 to 174 where 200 Daily moving averages and break out levels are lying.
Minor resistance for the commodity lies in the zone of 183 to 184. Resistance for the
commodity lies in the zone of 188 to 190 where channel resistance for the commodity is
lying. If the commodity manages to close above these levels then the commodity can move to
the levels of 195 to 198 where the commodity has formed a top in the month of February-
2017.
ZINC

LEAD (148.20) closed the week on absolutely flat note.
As we have mentioned last week that support for the commodity lies in the zone of 143 to
145 where medium & 200 Daily moving averages are lying. If the commodity manages to
close below these levels then the commodity can drift to the levels of 139 to 140 where long
term Fibonacci level is lying. During the week the commodity manages to hit a low of 146
and close the week around the levels of 148.
Support for the commodity lies in the zone of 143 to 145 where medium & 200 Daily moving
averages are lying. If the commodity manages to close below these levels then the
commodity can drift to the levels of 139 to 140 where long term Fibonacci level is lying.
Resistance for the commodity lies in the zone of 148 to 150 where Fibonacci levels are lying.
If the commodity manages to close above these levels then the commodity can move to the
levels of 152 to 154 where Fibonacci levels and highs for the month of April-2017 are lying.
LEAD

NICKEL (612.60) closed the week on positive note gaining around 5.50%.
583 where break out levels are lying. If the commodity manages to close below these levels
then the commodity can drift to the levels of around 555 to 560 where the commodity has
formed a short term bottom. During the week the commodity manages to hit a low of 573
and close the week around the levels of 613.
Minor support for the commodity lies in the zone of 600 to 603. Support for the commodity
lies in the zone of 580 to 583 where break out levels are lying. If the commodity manages to
close below these levels then the commodity can drift to the levels of around 555 to 560
where the commodity has formed a short term bottom.
The commodity has closed just above the major resistance zone of 608 to 610 from where
the commodity has broken down. If the commodity manages to close above these levels then
the commodity can move to the levels of around 625 to 635 from where the commodity
broke down on weekly charts.
NICKEL

ALUMINIUM (123.10) closed the week on negative note losing around 1.10%.
As we have mentioned last week that minor support for the commodity lies in the zone of
123.50 to 124. Support for the commodity lies in the zone of around 122.50 to 123 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 120.50 to 121 where
Fibonacci levels and 200 Daily moving averages are lying. During the week the commodity
manages to hit a low of 120.90 and close the week around the levels of 123.10.
Support for the commodity lies in the zone of around 122.50 to 123 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 120.50 to 121 where Fibonacci levels and
200 Daily moving averages are lying.
Minor resistance for the commodity lies in the zone of 123.50 to 124. Resistance for the
commodity lies in the zone of 125 to 125.50 where Fibonacci level is lying. If the commodity
manages to close above these levels then the commodity can move to the levels of 126.50 to
127 where the commodity has formed a top in the month of May-2017.
downside and 125 - 126 on upside.
ALUMINIUM

CRUDE OIL (2990) closed the week on positive note gaining around 4.50%.
As we have mentioned last week, that resistance for the commodity lies in the zone of 2880
to 2900 where Fibonacci levels are lying. If the commodity manages to close above these
levels then the commodity can move to the levels of 3000 to 3030 where short term moving
averages are lying. During the week the commodity manages to hit a high of 3010 and close
the week around the levels of 2990.
Minor support for the commodity lies in the zone of 2900 to 2930. Support for the
commodity lies in the zone of 2800 to 2830 where Fibonacci levels are lying. If the
commodity manages to close below these levels then the commodity can drift to the levels of
2700 to 2750 where long term Fibonacci level is lying.
Resistance for the commodity lies in the zone of 3000 to 3030 where short term moving
averages are lying. If the commodity manages to close above these levels then the
commodity can move to the levels of 3080 to 3100 where Fibonacci levels are lying.
CRUDE OIL

NATURAL GAS (192.30) closed the week on positive note gaining around 3.80%.
185 where lows for the month of June-2017 is lying. If the commodity manages to close
below these levels then the commodity can drift to the levels of 178 to 180 where long term
Fibonacci level is lying. During the week the commodity manages to hit a low of 186 and
close the week around the levels of 192.
Support for the commodity lies in the zone of 189 to 190 where Fibonacci levels are lying. If
the commodity manages to close below these levels then the commodity can drift to the
levels of 184 to 185 where low for the month of June-2017 is lying.
Resistance for the commodity lies in the zone of 196 to 197 where short term moving
averages are lying. If the commodity manages to close below these levels then the
commodity can move to the levels of 200 to 202 where Fibonacci levels and medium term
moving averages are 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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and completeness. Minimum amount mentioned here depends upon stock prices and market conditions and
will vary accordingly.

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