Weekly Outlook for Precious Metal, Energy & Metals (February 13, 2017 - February 17, 2017)

DATE: 10/02/2017
WEEKLY OUTLOOK FOR
PRECIOUS METAL, ENERGY
AND
METALS
(13/02/2017 - 17/02/2017)
© 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 (29173) closed the week with a positive note gaining around 0.35%.
Support for the commodity Gold lies in the zone of around 28850 to 28900 from where the
commodity broke out and medium term moving averages are lying. If the commodity man-
ages to close below these levels then the commodity can drift to the levels of 28200 to 28300
where Fibonacci levels, short term moving averages and short term bottom is lying.
Minor resistance for the commodity lies in the zone of 29400 to 29450. Resistance for the
commodity Gold lies in the zone of 29650 to 26750 where Fibonacci levels and 200 Daily
SMA is lying. If the commodity manages to close above these levels then the commodity can
move to the levels of 30300 to 30500 where Fibonacci levels are lying.
Broad range for the commodity in the coming week can be seen between 28500 - 28600 on
downside and 29600 - 29700 on upside.

SILVER (42597) closed the week with a positive note gaining around 1.90%.
Minor support for the commodity lies in the zone of around 42000 to 42200 where Fibonacci
levels are lying. Support for the commodity lies in the zone of 41400 to 41500 where the
commodity has taken multiple support 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
40600 to 40700 where Fibonacci levels, short term moving averages and short term bottom
is lying.
Minor resistance for the commodity lies in the zone of 42700 to 42800. Resistance for the
commodity lies in the zone of 43500 to 43700 where Fibonacci levels is lying. If the commod-
ity manages to close above these levels then the commodity can move to the levels of 44400
to 44600 where Fibonacci levels and commodity sold off in the month of November-2016.
It seems the commodity is forming a Inverse Head & Shoulder pattern on daily basis where
neck-line for the same lies in the zone of 42700 to 42800 levels. If the commodity manages to
close above these levels for couple of days then target for the pattern can be in the range of
46000.
SILVER

COPPER (408.15) closed the week with a positive note gaining around 5.30%.
Minor support for the commodity lies in the zone of around 399 to 400. Support for the com-
modity lies in the zone of 390 to 392 where 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 382 to 384 from where the commodity broke out after consolidation.
The commodity has closed around the resistance zone of 408 to 409 where trend-line joining
highs of 414.80 and 409.50 is lying. Resistance for the commodity lies in the zone of 414 to
416 where the commodity has made a high in the month of November-2016. If the commod-
ity manages to close above these levels then the commodity can move to the levels of 422 to
425 where monthly Fibonacci levels are lying and from where the commodity sold off in the
month of May-2015.
Broad range for the commodity in the coming week can be seen between 398 - 400 on down-
side and 418 - 420 on upside.
COPPER

ZINC (196.40) closed the week with a positive note gaining around 5.15%.
modity lies in the zone of 184 to 186 where the commodity has taken multiple support 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 179 to 181 from where the commodity broke
out after consolidation and Fibonacci levels are lying.
Minor resistance for the commodity lies in the zone of 198 to 200. Resistance for the com-
modity lies in the zone of 204 to 206 where 52 week highs for the commodity is lying. If the
commodity manages to close above these levels then the commodity can move to the levels
of around 210.
ZINC

LEAD (161.30) closed the week with a positive note gaining around 3.20%.
modity lies in the zone of 154 to 155 where Fibonacci level is lying. If the commodity man-
ages to close below these levels then the commodity can drift to the levels of 149 to 151
where short term moving averages and Fibonacci level is lying.
Minor resistance for the commodity lies in the zone of 163 to 164 where highs of January-
2017 is lying. Resistance for the commodity lies in the zone of 166 to 167 where Fibonacci
level is lying. If the commodity manages to close above these levels then the commodity can
move to the levels of 175 to 176 where 52 week highs for the commodity is lying.
LEAD

NICKEL (710.80) closed the week with a positive note gaining around 3.10%.
modity lies in the zone of 678 to 682 where Fibonacci level is lying and 200 Daily SMA is ly-
ing. If the commodity manages to close below these levels then the commodity can drift to
the levels of 650 to 655 from where the commodity broke out.
modity lies in the zone of 725 to 730 where Fibonacci level and highs for the month of Janu-
ary-2017 is lying. If the commodity manages to close above these levels then the commodity
can move to the levels of 748 to 750 where Fibonacci level is lying.
NICKEL

ALUMINIUM (124.85) closed the week with a positive note gaining around 1.70%.
Support for the commodity lies in the zone of around 123 to 124 from where commodity
broke out after consolidation and Fibonacci level is lying. If the commodity manages to close
below these levels then the commodity can drift to the levels of 120 to 121 where short term
moving averages and Fibonacci level is lying.
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 128 to 129 where the commodity has formed a high in the month of January-2017.
ALUMINIUM

CRUDE OIL (3609) closed the week with a negative note losing around 0.10%.
Minor support for the commodity lies in the zone of 3530 to 3550. Support for the commod-
ity lies in the zone of 3440 to 3460 where trend-line joining highs of May-2016 and October-
2016 is lying. If the commodity manages to close below these levels then the commodity can
drift to the levels of 3350 to 3380 where medium term moving averages are lying.
modity lies in the zone of 3740 to 3770 from where the commodity sold off in the month of
January-2017. If the commodity manages to close above these levels then the commodity can
move to the levels of 3950 to 4000 where the commodity has formed a double top pattern
and sold off.
CRUDE OIL

NATURAL GAS (204.10) closed the week with a negative note losing around 1.00%.
Minor support for the commodity lies in the zone of 200 to 202 where Fibonacci level is ly-
ing. Support for the commodity lies in the zone of 195 to 197 where 200 Daily SMA is lying. If
the commodity manages to close below these levels then the commodity can drift to the lev-
els of 188 to 190 where Fibonacci level is lying.
modity lies in the zone of 213 to 215 from where the commodity broke down from the dou-
ble bottom pattern and 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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Disclaimer:
The recommendations made herein do not constitute an offer to sell or a solicitation to buy any of the securities
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
their actions. Information is obtained from sources deemed to be reliable but is not guaranteed as to accuracy
and completeness. Minimum amount mentioned here depends upon stock prices and market conditions and
will vary accordingly.

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