Weekly Outlook for Precious Metals, Energy and Metals (12/06/2017 to 16/06/2017)

DATE: 09/06/2017
WEEKLY OUTLOOK FOR
PRECIOUS METAL, ENERGY
AND
METALS
(12/06/2017 - 16/06/2017)
© 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
An ISO 9001:2008 Certified Company
www.equitypandit.com

GOLDPAGE 2
GOLD (29019) closed the week on positive note gaining around 0.50%.
As we have mentioned last week that resistance for the commodity lies in the zone of 29000
to 29100 where Fibonacci levels and 200 daily moving averages are lying. If the commodity
manages to close above these levels then the commodity can move to the levels of 29500 to
29600 where Fibonacci levels are lying. During the week the commodity manages to hit a
high of 29585 and close the week around the levels of 29019.
Support for the commodity lies in the zone of 28700 to 28800. Support for the commodity
lies in the zone of 28200 to 28300 where Fibonacci level is lying. If the commodity manages
to close below these levels then the commodity can drift to the levels of 27900 to 28000
where the commodity has formed a bottom in the month of March-2017.
Resistance for the commodity lies in the zone of 29000 to 29100 where Fibonacci levels and
200 daily moving averages are lying. If the commodity manages to close above these levels
then the commodity can move to the levels of 29550 to 29650 where Fibonacci levels are
lying.
Broad range for the commodity in the coming week can be seen between 28500 - 28600 on
downside & 29500 - 29600 on upside.

SILVER (39694) closed the week on negative note losing 1.50%.
As we have mentioned last week that resistance for the commodity lies in the zone of 40600
to 40700 where Fibonacci levels are lying. If the commodity manages to close above these
levels then the commodity can move to the levels of 41100 to 41200 where medium term
moving averages are lying. Above these levels the commodity can move to the levels of
41700 to 41800 where 200 daily moving averages are lying. During the week the commodity
manages to hit a high of 40842 and close the week around the levels of 39694.
Support for the commodity lies in the zone of 39300 to 39500 from where the commodity
broke out. If the commodity manages to close below these levels then the commodity can
drift to the levels of 38800 to 39000 where break out levels for the commodity is lying.
Below these levels the commodity can drift to the levels of 38400 to 38500.
Minor resistance for the commodity lies in the zone of 39900 to 40000. Resistance for the
commodity lies in the zone of 40600 to 40700 where Fibonacci levels are lying. If the
commodity manages to close above these levels then the commodity can move to the levels
of 41100 to 41200 where medium term moving averages are lying.
SILVER

COPPER (377) closed the week on positive note gaining around 2.80%.
As we have mentioned last week that resistance for the commodity lies in the zone of 368 to
370 where Fibonacci levels are lying. If the commodity manages to close above these levels
then the commodity can move to the levels of around 375 to 377 from where the commodity
broke down and Fibonacci level are lying. During the week the commodity manages to hit a
high of 377 and close the week around the levels of 377.
Minor support for the commodity lies in the zone of 375 to 376. Support for the commodity
lies in the zone of 368 to 370 where 200 Daily moving averages and Fibonacci levels are
lying. If the commodity manages to close below these levels then the commodity can drift to
the levels of 361 to 363 where Fibonacci level are lying.
Resistance for the commodity lies in the zone of 379 to 381 where medium term moving
averages are lying. If the commodity manages to close above these levels then the
commodity can move to the levels of 388 to 390 where Fibonacci levels are lying.
COPPER

ZINC (163.15) closed the week on a positive note gaining around 0.10%.
As we have mentioned last week that support for the commodity lies in the zone of 162 to
163 where Fibonacci level is lying. If the commodity manages to close below these levels
then the commodity can drift to the levels of around 158 to 160 where channel support for
the commodity is lying. During the week the commodity manages to hit a low of 156 and
close the week around the levels of 163.
Support for the commodity lies in the zone of 162 to 163 where Fibonacci level is lying. If the
commodity manages to close below these levels then the commodity can drift to the levels of
around 158 to 160 where channel support for the commodity is lying.
commodity lies in the zone of 168 to 170 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 172 to 173 where 200 Daily moving averages are lying.
ZINC

LEAD (135.20) 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
133 to 134. Support for the commodity lies in the zone of 130 to 131 where long term
Fibonacci level is lying. If the commodity manages to close below these levels then the
commodity can drift to the levels of 126 to 128. During the week the commodity manages to
hit a low of 132 and close the week around the levels of 135.
Minor support for the commodity lies in the zone of 133 to 134. Support for the commodity
lies in the zone of 130 to 131 where long term Fibonacci level is lying. If the commodity
manages to close below these levels then the commodity can drift to the levels of 126 to 128.
Resistance for the commodity lies in the zone of 139 to 140 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 142 to 144 where Fibonacci level and short & 200 Daily moving averages are
lying.
LEAD

NICKEL (576.60) closed the week on positive note gaining around 0.40%.
As we have mentioned last week that minor resistance for the commodity lies in the zone of
578 to 580. Resistance for the commodity lies in the 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. During the week the commodity manages to hit a high of 581 and
close the week around the levels of 577.
Support for the commodity lies in the zone of 575 to 580 where the commodity has formed a
short term bottom. If the commodity manages to close below these levels then the
commodity can drift to the levels of around 540 to 550 where long term trend-line support
for the commodity is lying.
commodity lies in the zone of 608 to 610 from where the commodity has broken down. If the
of around 625 to 635 from where the commodity broke down on weekly charts.
NICKEL

ALUMINIUM (122.60) closed the week on negative note losing around 1.00%.
As we have mentioned last week that support for the commodity lies in the zone of around
123 to 123.50 where Fibonacci levels are lying. If the commodity manages to close below
these levels then the commodity can drift to the levels of 121 to 121.50 where Fibonacci
levels are lying. During the week the commodity manages to hit a low of 121 and close the
week around the levels of 122.60.
Support for the commodity lies in the zone of around 121 to 121.50 where Fibonacci levels
are lying. If the commodity manages to close below these levels then the commodity can drift
to the levels of 119 to 120 where Fibonacci levels and 200 Daily moving averages are lying.
Resistance for the commodity lies in the zone of 123.00 to 123.50 where Fibonacci level is
lying. If the commodity manages to close above these levels then the commodity can move to
the levels of 124.50 to 125 where short & medium term moving averages and Fibonacci
levels are lying.
downside and 124 - 125 on upside.
ALUMINIUM

CRUDE OIL (2959) closed the week on negative note losing around 4.00%.
3030 where break out levels for the commodity are lying. If the commodity manages to close
below these levels then the commodity can drift to the levels of 2900 to 2930. During the
week the commodity manages to hit a low of 2910 and close the week around the levels of
2959.
Support for the commodity lies in the zone of 2830 to 2880 where the commodity has taken
support in the month of November-2016 and May-2017. If the commodity manages to close
below these levels then the commodity can witness a freefall and can drift to the levels of
2600 to 2650.
commodity lies in the zone of 3080 to 3100 where Fibonacci levels are lying. If the
of 3200 to 3230 where Fibonacci levels and medium term moving averages are lying.
CRUDE OIL

NATURAL GAS (196) closed the week on positive note gaining around 1.20%.
190 where Fibonacci levels are lying. If the commodity manages to close below these levels
then the commodity can drift to the levels of 185 to 186 where long term Fibonacci levels are
lying. Below these levels the commodity can drift to the levels of 178 to 180. During the week
the commodity manages to hit a low of 189 and close the week around the levels of 196.
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 185 to 186 where long term Fibonacci levels are lying. Below these levels the
commodity can drift to the levels of 178 to 180.
Resistance for the commodity lies in the zone of 200 to 202 where Fibonacci levels are lying.
If the commodity manages to close below these levels then the commodity can drift to the
levels of 204 to 205 where short, medium and long term moving averages are lying.
NATURAL GAS

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