Weekly Outlook for Precious Metal, Energy & Metals (February 20, 2017 - February 24, 2017)

DATE: 17/02/2017
WEEKLY OUTLOOK FOR
PRECIOUS METAL, ENERGY
AND
METALS
(20/02/2017 - 24/02/2017)
© 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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Surat - 395009
Gujarat
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www.equitypandit.com

GOLDPAGE 2
GOLD (29360) closed the week with a positive note gaining around 0.65%.
As we have mentioned last week that support for the commodity Gold lies in the zone of
around 28850 to 28900 from where the commodity broke out and medium term moving av-
erages are lying. If the commodity manages 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. During the week the commodity manages to hit a low of
28872 and close the week around the levels of 29360.
Minor support for the commodity lies in the zone of 29120 to 29170. Support for the com-
modity Gold lies in the zone of around 28850 to 28900 from where the commodity broke
out, 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 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 28800 - 28900 on
downside and 29700 - 29800 on upside.

SILVER (42937) closed the week with a positive note gaining around 0.80%.
As we have mentioned last week that 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 av-
erages are lying. During the week the commodity manages to hit a low of 42222 and close the
week around the levels of 42937.
Minor support for the commodity lies in the zone of around 42400 to 42500. Support for the
commodity lies in the zone of 42000 to 42200 from where the commodity broke out and Fibo-
nacci levels are lying. If the commodity manages to close below these levels then the commodity
can drift to the levels of 41200 to 41300 where the commodity has taken multiple support and
medium term moving averages are lying.
Minor resistance for the commodity lies in the zone of 43000 to 43100. Resistance for the com-
modity lies in the zone of 43500 to 43700 where Fibonacci levels is lying. If the commodity man-
ages 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.
Broad range for the commodity in the coming week can be seen between 42100 - 42200 on
downside and 43800 - 43900 on upside.
SILVER

COPPER (400.20) closed the week with a negative note losing around 1.95% .
As we have mentioned last week that 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 com-
modity lies in the zone of 414 to 416 where the commodity has made a high in the month of No-
vember-2016. If the commodity 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. During the week the commodity manages to hit a
high of 414.75 and close the week around the levels of 400.20.
Minor support for the commodity lies in the zone of around 399 to 400. Support for the commod-
ity 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.
Resistance for the commodity lies in the zone of 406 to 407 where trend-line joining highs of
414.80 and 409.50 is lying. If the commodity manages to close above these levels then the com-
modity can move to the levels of 414 to 416 where the commodity has made a high in the month
of November-2016.
Broad range for the commodity in the coming week can be seen between 390 - 392 on downside
and 408 - 410 on upside.
COPPER

ZINC (188.05) closed the week with a negative note losing around 4.25%.
192 to 194. Support for the commodity 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. During the week the
commodity manages to hit a low of 186.45 and close the week around the levels of 188.05.
Support for the commodity lies in the zone of 184 to 186 where the commodity has taken multi-
ple 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 191 to 193. Resistance for the commodity
lies in the zone of 198 to 200. Resistance for the commodity 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 (151.15) closed the week with a negative note losing around 6.30%.
158 to 159. Support for the commodity lies in the zone of 154 to 155 where Fibonacci level is ly-
ing. If the commodity manages 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. During the
week the commodity manages to hit a low of 150.65 and close the week around the levels of
151.15.
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.
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.
LEAD

NICKEL (739.70) closed the week with a positive note gaining around 4.10%.
As we have mentioned last week that minor resistance for the commodity lies in the zone of 715
to 718. Resistance for the commodity lies in the zone of 725 to 730 where Fibonacci level and
highs for the month of January-2017 is lying. If the commodity manages to close above these lev-
els then the commodity can move to the levels of 748 to 750 where Fibonacci level is lying. Dur-
ing the week the commodity manages to hit a high of 740 and close the week around the levels of
740.
Support for the commodity lies in the zone of around 722 to 725 from where the commodity
broke out of January-2017 highs and Fibonacci levels are lying. If the commodity manages to
close below these levels then the commodity can drift to the levels of 705 to 710 from where the
commodity broke out on intraday basis and Fibonacci levels are lying.
Resistance for the commodity lies in the zone of 748 to 750 where Fibonacci level and the com-
modity broke down from multiple support zone. If the commodity manages to close above these
levels then the commodity can move to the levels of 765 to 770 from where the commodity
broke down on weekly basis.
NICKEL

ALUMINIUM (125.65) closed the week with a positive note gaining around 0.65%.
As we have mentioned last week that 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. During the week the commodity manages to hit a high of 127.45 and
close the week around the levels of 125.65
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 (3580) closed the week with a negative note losing around 0.80%.
As we have mentioned last week that minor support for the commodity lies in the zone of 3530
to 3550. Support for the commodity 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. During the week the commodity manages to hit a low of 3530 and close the
week around the levels of 3580.
Minor support for the commodity lies in the zone of 3530 to 3550. Support for the commodity
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.
Minor resistance for the commodity lies in the zone of 3620 to 3630. Resistance for the commod-
ity 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.
Broad range for the commodity in the coming week can be seen between 3460 - 3480 on down-
side and 3660 - 3680 on upside.
CRUDE OIL

NATURAL GAS (191.20) closed the week with a negative note losing around 6.30%.
As we have mentioned last week that minor support for the commodity lies in the zone of 200 to
202 where Fibonacci level is lying. 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 levels of 188 to 190 where Fibonacci level is lying. During the week
the commodity manages to hit a low of 190.60 and close the week around the levels of 191.20.
Support for the commodity lies in the zone of 188 to 190 where Fibonacci level is lying. If the
commodity manages to close below these levels then the commodity can drift to the levels of 178
to 180 where Fibonacci levels are lying.
Resistance for the commodity lies in the zone of 195 to 197 where 200 Daily SMA is lying. If the
commodity manages to close above these levels then the commodity can move to the levels of
201 to 203 where Fibonacci levels are lying.
NATURAL GAS

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