Weekly Outlook for Precious Metal, Energy and Metals (24/04/2017 to 28/04/2017)

DATE: 21/04/2017
WEEKLY OUTLOOK FOR
PRECIOUS METAL, ENERGY
AND
METALS
(24/04/2017 - 28/04/2017)
© 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 (29418) closed the week on absolutely flat note.
As we have mentioned last week that resistance for the commodity lies in the zone of 29400
to 29500 from where the commodity sold off in the month of March-2017. If the commodity
manages to close above these levels then the commodity can move to the levels of 29650 to
29750 where Fibonacci level and highs for the month of February-2017 are lying. During the
week the commodity manages to hit a high of 29539 and close the week around the levels of
29418.
Minor support for the commodity lies in the zone of 29200 to 29250. Support for the
commodity lies in the zone of 29000 to 29100 where Fibonacci level is lying. If the
commodity manages to close below these levels then the commodity can drift to the levels of
28400 to 28500 from where the commodity broke out.
Resistance for the commodity lies in the zone of 29400 to 29500 from where the commodity
sold off in the month of March-2017 and 200 Daily moving average is lying. If the commodity
manages to close above these levels then the commodity can move to the levels of 29650 to
29750 where Fibonacci level and highs for the month of February-2017 are lying.
Broad range for the commodity in the coming week can be seen between 29000 - 29100 on
downside & 29800 - 29900 on upside.

SILVER (41289) closed the week on negative note losing around 3.00%.
As we have mentioned last week that resistance for the commodity lies in the zone of 43000
to 43100 where 200 Daily MA is lying. If the commodity manages to close above these levels
then the commodity can move to the levels of 43400 to 43600 where Fibonacci level and
high of the month of February-2017 is lying. During the week the commodity manages to hit
a high of 42750 and close the week around the levels of 41289.
Support for the commodity lies in the zone of 40750 to 40900 where Fibonacci level is lying.
If the commodity manages to close below these levels then the commodity can drift to the
levels of around 40100 to 40300 where the commodity has opened gap up.
Minor resistance for the commodity lies in the zone of 41600 to 41800. Resistance for the
commodity lies in the zone of 42150 to 42250 where short term moving average and
Fibonacci levels are lying. If the commodity manages to close above these levels then the
commodity can move to the levels of around 42800 to 42900 where the commodity is facing
resistance and 200 Daily moving averages are lying.
SILVER

COPPER (363.00) closed the week on negative note losing around 0.90%.
As we have mentioned last week that support for the commodity lies in the zone of 362 to
364 where the commodity has taken support in the month of November-2016 and December
-2016. If the commodity manages to close below these levels then the commodity can drift to
the levels of 358 to 360 where 200 Daily moving average is lying. During the week the
commodity manages to hit a low of 357 and close the week around the levels of 363.
Support for the commodity lies in the zone of 362 to 364 where the commodity has taken
support in the month of November-2016 and December-2016. If the commodity manages to
close below these levels then the commodity can drift to the levels of 358 to 360 where 200
Daily moving average is lying.
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.
COPPER

ZINC (166.65) closed the week on a negative note losing around 1.15%..
As we have mentioned last week that minor resistance for the commodity lies in the zone of
172 to 173. Resistance for the commodity lies in the zone of 175 to 177 from where the
commodity broke down. If the commodity manages to close above these levels then the
commodity can move to the levels of 179 to 181 where Fibonacci level is lying. During the
167.
Support for the commodity lies in the zone of 163 to 165 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.
Resistance for the commodity lies in the zone of 169 to 170. Resistance for the commodity
lies in the zone of 175 to 177 from where the commodity broke down. If the commodity
manages to close above these levels then the commodity can move to the levels of 179 to 181
where Fibonacci level is lying.
ZINC

LEAD (139.10) closed the week on negative note losing around 3.90%.
144 where Fibonacci levels are lying. If the commodity manages to close below these levels
then the commodity can drift to the levels of 140 to 141 where 200 Daily MA is lying. During
the week the commodity manages to hit a low of 136 and close the week around the levels of
139.
Minor support for the commodity lies in the zone of 136 to 137. Support for the commodity
lies in the zone of 133 to 134 where the commodity has taken support in the month of
December-2016. If the commodity manages to close below these levels then the commodity
can drift to the levels of around 130 to 131 where long term Fibonacci levels are lying.
Resistance for the commodity lies in the zone of 141 to 142 where Fibonacci level and 200
Daily moving average is lying. If the commodity manages to close above these levels then the
commodity can move to the levels of 147 to 149 from where the commodity broke down
after consolidation and Fibonacci level is lying.
downside and 146 - 148 on upside.
LEAD

NICKEL (604.80) closed the week on negative note losing around 3.50%.
627 where the commodity has formed a low in the month of March-2017. If the commodity
manages to close below these levels then the commodity can drift to the levels of 600 to 605
from where the commodity broke out on weekly basis. During the week the commodity
manages to hit a low of 601 and close the week around the levels of 605.
Support for the commodity lies in the zone of 600 to 605 from where the commodity broke
out on weekly basis. If the commodity manages to close below these levels then the
commodity can drift to the levels of around 570 to 580.
Minor resistance for the commodity lies in the zone of 615 to 620. Resistance for the
commodity lies in the zone of 635 to 640 from where the commodity broke down on weekly
charts. If the commodity manages to close above these levels then the commodity can move
to the levels of around 675 to 680 where Fibonacci levels and short term moving averages
are lying.
NICKEL

ALUMINIUM (124.60) closed the week on positive note gaining around 1.20%.
As we have mentioned last week that support for the commodity lies in the zone of around
123 to 123.50 from where commodity broke out after consolidation, 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 120 to 121 where Fibonacci level is lying.
During the week the commodity manages to hit a low of 121.80 and close the week around the
levels of 124.60.
Minor support for the commodity lies in the zone of 123.80 to 124.20. Support for the
commodity lies in the zone of around 123 to 123.50 from where commodity broke out after
consolidation, 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 120 to 121
where Fibonacci level is lying.
Resistance for the commodity lies in the zone of 125 to 125.50 where Fibonacci level and short
term moving averages are lying. If the commodity manages to close above these levels then the
commodity can move to the levels of around 127 to 128 where the commodity has formed a
short term top.
downside and 127 - 128 on upside.
ALUMINIUM

CRUDE OIL (3208) closed the week on a negative note losing around 6.20%.
As we have mentioned last week that minor support for the commodity lies in the zone of
3360 to 3380. Support for the commodity lies in the zone of 3300 to 3330 where Fibonacci
level is lying. If the commodity manage to close below these levels then the commodity can
drift to the levels of 3230 to 3270 where Fibonacci level and 200 Daily MA are lying. During
the week the commodity manages to hit a low of 3195 and close the week around the levels
of 3208.
Support for the commodity lies in the zone of 3160 to 3180 from where the commodity
broke out after consolidation. If the commodity manages to close below these levels then the
commodity can drift to the levels of around 3080 to 3100 where Fibonacci level and lows for
the month of March-2017 are lying.
Resistance for the commodity lies in the zone of 3240 to 3270 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 around 3330 to 3350 where Fibonacci levels
are lying.
CRUDE OIL

NATURAL GAS (201.20) closed the week on negative note losing around 2.80%.
As we have mentioned last week that minor resistance for the commodity lies in the zone of
209 to 211. Resistance for the commodity lies in the zone of 215 to 217 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 221 to 223 where Fibonacci level is lying. During the
201.
Support for the commodity lies in the zone of 194 to 196 from where the commodity broke
out after consolidation. If the commodity manages to close below these levels then the
commodity can drift to the levels of 189 to 190 where Fibonacci levels are lying.
Resistance for the commodity lies in the zone of 203 to 205 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 around 209 to 211 from where the commodity
broke down.
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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