Weekly Outlook for Precious Metal, Energy & Metals (March 06, 2017 - March 10, 2017)

DATE: 03/03/2017
WEEKLY OUTLOOK FOR
PRECIOUS METAL, ENERGY
AND
METALS
(06/03/2017 - 10/03/2017)
© 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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www.equitypandit.com

GOLDPAGE 2
GOLD (29020) closed the week with a negative note losing around 2.00%.
As we have mentioned last week that resistance for the commodity lies in the zone of 29650
to 29750 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. During the week the commodity manages to hit a high of 29785
and close the week around the levels of 29020.
Support for the commodity lies in the zone of 28800 to 29000 where Fibonacci level and low
for the month of February-2017 is lying. If the commodity manages to close below these lev-
els then the commodity can drift to the levels of 28400 to 28500.
Minor resistance for the commodity lies in the zone of 29250 to 29350. Resistance for the
commodity 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 28400 - 28500 on
downside & 29500 - 29600 on upside.

SILVER (42942) closed the week with a negative note losing around 1.00%.
As we have mentioned last week that minor support for the commodity lies in the zone of
around 42800 to 43000. Support for the commodity lies in the zone of 42400 to 42500
where the commodity has taken multiple support on intraday basis. If the commodity man-
ages to close below these levels then the commodity can drift to the levels of 42000 to 42200
where Fibonacci level is lying. During the week the commodity manages to hit a low of
42069 and close the week around the levels of 42942.
Minor support for the commodity lies in the zone of around 42700 to 42800. Support for the
commodity lies in the zone of 42400 to 42500 where the commodity has taken multiple sup-
port on intraday basis. If the commodity manages to close below these levels then the com-
modity can drift to the levels of 42000 to 42200 where Fibonacci level is lying.
Minor resistance for the commodity lies in the zone of 43000 to 43100. 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.
SILVER

COPPER (398.50) closed the week with a positive note gaining around 1.10%.
As we have mentioned last week that support for the commodity lies in the zone of 390 to
392 where Fibonacci level and short term moving averages are lying. If the commodity man-
ages 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. During the week the commodity man-
ages to hit a low of 390.50 and close the week around the levels of 398.50.
Support for the commodity lies in the zone of 388 to 390 where Fibonacci level and low for
the month of February-2017 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 and medium term moving averages are lying.
Minor resistance for the commodity lies in the zone of 398 to 400. Resistance for the com-
modity 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 commodity 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 388 - 390 on down-
side & 410 - 412 on upside.
COPPER

ZINC (185.85) closed the week with a negative note losing around 1.60%.
As we have mentioned last week that 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 Fibo-
nacci levels are lying. During the week the commodity manages to hit a low of 184.75 and
close the week around the levels of 185.85.
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.
modity lies in the zone of 198 to 200 where trend-line joining highs of 204 & 199 is lying. If
the commodity manages to close above these levels then the commodity can move to the lev-
els of 204 to 206 where 52 week highs for the commodity is lying.
side and 194 - 196 on upside.
ZINC

LEAD (150.55) closed the week on absolutely flat note.
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 com-
modity 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 154.65 and close the week
around the levels of 150.55.
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.
modity 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 (735.70) closed the week with a positive note gaining around 1.70%.
As we have mentioned last week that support for the commodity lies in the zone of around
718 to 720 where medium term moving averages are lying. If the commodity manages to
close below these levels then the commodity can drift to the levels of 700 to 705 from where
the commodity broke out on intraday basis and Fibonacci levels are lying. During the week
the commodity manages to hit a low of 720.70 and close the week around the levels of
735.70
Support for the commodity lies in the zone of around 718 to 720 where medium term mov-
ing averages are lying. If the commodity manages to close below these levels then the com-
modity can drift to the levels of 700 to 705 from where the commodity broke out on intraday
basis and Fibonacci levels are lying.
modity lies in the zone of 748 to 750 where Fibonacci level and the commodity 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.
side & 750 - 755 on upside.
NICKEL

ALUMINIUM (126.15) closed the week with a positive note gaining around 0.20%.
125 to 125.50. 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 man-
ages 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. During the week the com-
modity manages to hit a low of 125.30 and close the week around the levels of 126.15.
Minor support for the commodity lies in the zone of 125 to 125.50. Support for the commod-
ity lies in the zone of around 123 to 124 from where commodity broke out after consolida-
tion 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 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.
ALUMINIUM

CRUDE OIL (3556) closed the week with a negative note losing around 1.60%.
3580 to 3600. Support for the commodity lies in the zone of 3530 to 3550 where the com-
modity has taken multiple support on daily basis. If the commodity manages to close below
these levels then the commodity can drift to the levels of 3450 to 3480 where medium term
moving averages, Fibonacci level and trend-line joining earlier highs are lying. During the
week the commodity manages to hit a low of 3520 and close the week around the levels of
3556.
Support for the commodity lies in the zone of 3530 to 3550 where the commodity has taken
multiple support on daily basis. If the commodity manages to close below these levels then
the commodity can drift to the levels of 3450 to 3480 where medium term moving averages,
Fibonacci level and trend-line joining earlier highs are lying.
modity lies in the zone of 3690 to 3710 where the commodity is facing multiple resistance. If
els of 3750 to 3780 where the commodity has formed a high in the month of January-2017.
CRUDE OIL

NATURAL GAS (187.10) closed the week with a positive note gaining around 1.50%.
As we have mentioned last week that resistance for the commodity lies in the zone of 188 to
190 where Fibonacci level is lying. If the commodity manages to close above these levels
then the commodity can move to the levels of 197 to 199 where 200 Daily SMA is lying. Dur-
ing the week the commodity manages to hit a high of 189.90 and close the week around the
levels of 187.10.
Minor support for the commodity lies in the zone of 181 to 183. Support for the commodity
lies in the zone of 171 to 173 where the commodity has formed a bottom in the month of No-
vember-2016 and Fibonacci level is lying. If the commodity manages to close below these
levels then the commodity can drift to the levels of 162 to 164 where long term Fibonacci
levels are lying.
Resistance for the commodity lies in the zone of 188 to 190 where Fibonacci level is lying. If
els of 197 to 199 where 200 Daily SMA is lying.
NATURAL GAS

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Disclaimer:
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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
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
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