Weekly Outlook for Precious Metal, Energy and Metals (27/03/2017 to 31/03/2017)

DATE: 24/03/2017
WEEKLY OUTLOOK FOR
PRECIOUS METAL, ENERGY
AND
METALS
(27/03/2017 - 31/03/2017)
© 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.
305, Trinity Business Centre, L. P. Savani Road,
Surat - 395009
Gujarat
An ISO 9001:2008 Certified Company
www.equitypandit.com

GOLDPAGE 2
GOLD (28793) closed the week on a positive note gaining around 1.00%.
As we have mentioned last week that resistance for the commodity lies in the zone of 28650
to 28750 where short & medium term moving averages are lying. If the commodity manages
to close above these levels then the commodity can move to the levels of 28850 to 29000
where Fibonacci levels and lows for the month of February-2017 are lying. During the week
the commodity manages to hit a high of 28948 and close the week around the levels of
28793.
Minor support for the commodity lies in the zone of 28600 to 28650. Support for the
commodity lies in the zone of 28400 to 28500 from where the commodity broke out. If the
commodity manages to close below these levels then the commodity can drift to the levels of
28100 to 28200 where Fibonacci level and short term bottom is lying.
Resistance for the commodity lies in the zone of 28900 to 29000 where Fibonacci levels and
lows for the month of February-2017 are lying. If the commodity manages to close above
these levels then the commodity can move to the levels of 29300 to 29400 from where the
commodity sold off in the month of March-2017.
Broad range for the commodity in the coming week can be seen between 28400 - 28500 on
downside & 29200 - 29300 on upside.

SILVER (41530) closed the week on a positive note gaining around 1.50%.
As we have mentioned last week that minor resistance for the commodity lies in the zone of
40100 to 40200. Resistance for the commodity lies in the zone of 41500 to 41700 where short
& medium term moving averages are lying. If the commodity manages to close above these
levels then the commodity can move to the levels of 42000 to 42200 where Fibonacci levels
are lying. During the week the commodity manages to hit a high of 41618 and close the week
around the levels of 41530.
Minor support for the commodity lies in the zone of around 41100 to 41200. Support for the
commodity lies in the zone of 40700 to 40800 where Fibonacci level is lying. If the commodity
manages to close below these levels then the commodity can drift to the levels of 40200 to
40400 where the commodity has opened gap up on 16/03/2017.
Minor resistance for the commodity lies in the zone of 41700 to 41800. Resistance for the
manages to close above these levels then the commodity can move to the levels of 43000 to
43100 where 200 Daily SMA is lying.
SILVER

COPPER (380.75) closed the week on a negative note losing around 2.60%.
As we have mentioned last week that minor support for the commodity lies in the zone of
386 to 388. Support for the commodity lies in the zone of 380 to 382 where the commodity
has taken support on couple of occasions. If the commodity manages to close below these
levels then the commodity can drift to the levels of 375 to 377 where Fibonacci level is lying.
During the week the commodity manages to hit a low of 376 and close the week around the
levels of 381.
Support for the commodity lies in the zone of 380 to 382 where the commodity has taken
support on couple of occasions. If the commodity manages to close below these levels then
the commodity can drift to the levels of 375 to 376 where Fibonacci level is lying.
commodity lies in the zone of 388 to 390 where Fibonacci levels are lying. If the commodity
manages to close above these levels then the commodity can move to the levels of around
393 to 395 where short term moving averages are lying.
COPPER

ZINC (184.35) closed the week on a negative note losing around 2.15%..
As we have mentioned last week that minor support for the commodity lies in the zone of
186 to 187. Support for the commodity lies in the zone of 183 to 184 from where the
commodity broke out. 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 182 and close the week around the levels of 184.35.
Support for the commodity lies in the zone of 183 to 184 from where the commodity broke
out. 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.
Resistance for the commodity lies in the zone of 187 to 188. Resistance for the commodity
lies in the zone of 194 to 196 where trend-line joining earlier highs is lying. If the commodity
manages to close above these levels then the commodity can move to the levels of around
200 to 202 where top formed in the month of November-2016 is lying.
ZINC

LEAD (153.25) closed the week on positive note gaining around 2.20%.
151 to 152. 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. During the week the commodity manages to hit a high of 156.35 and close
the week around the levels of 153.25
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.
downside and 158 - 160 on upside.
LEAD

NICKEL (671.90) closed the week on a negative note losing around 4.10%.
As we have mentioned last week that Minor support for the commodity lies in the zone of
660 to 665. Support for the commodity lies in the zone of 635 to 640 where the commodity
has formed a bottom in the month of January-2017. If the commodity manages to close
below these levels then the commodity can witness a free fall to the levels of around 600.
During the week the commodity manages to hit a low of 641 and close the week around the
levels of 644.
Support for the commodity lies in the zone of 635 to 640 where the commodity has formed a
bottom in the month of January-2017. If the commodity manages to close below these levels
then the commodity can witness a free fall to the levels of around 600.
Resistance for the commodity lies in the zone of 655 to 657 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 675 to 680 where Fibonacci level is lying.
NICKEL

ALUMINIUM (126.15) closed the week on a positive note gaining around 1.00%.
As we have mentioned last week that support for the commodity lies in the zone of around
123 to 124 from where commodity broke out after consolidation, Fibonacci level and short
term moving averages are lying. If the commodity manages to close below these levels then
the commodity can drift to levels of 120 - 121 where Fibonacci level is lying. During the week
the commodity manages to hit a low of 124 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
commodity lies in the zone of around 123 to 124 from where commodity broke out after
consolidation, 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 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.
downside and 128 - 129 on upside.
ALUMINIUM

CRUDE OIL (3142) closed the week on a negative note losing around 1.70%.
As we have mentioned last week that support for the commodity lies in the zone of 3150 to
3170 from where the commodity broke out after consolidation. If the commodity manage to
close below these levels then the commodity can drift to the levels of 3080 to 3100 where
Fibonacci levels are lying. During the week the commodity manages to hit a low of 3104 and
close the week around the levels of 3142.
Support for the commodity lies in the zone of 3080 to 3100 where Fibonacci levels are lying.
If the commodity manage to close below these levels then the commodity can drift to the
levels of 3030 to 3050.
manages to close above these levels then the commodity can move to the levels of 3260 to
3280 where 200 Daily SMA is lying.
CRUDE OIL

NATURAL GAS (200.30) closed the week on a positive note gaining around 3.60%.
195 to 197. Resistance for the commodity lies in the zone of 200 to 202 where 200 Daily SMA
and Fibonacci level is lying. If the commodity manages to close above these levels then the
commodity can move to the levels of 210 to 212 where medium term moving averages and
Fibonacci levels are lying. During the week the commodity manages to hit a high of 203 and
close the week around the levels of 200.30.
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 188 to 190 where Fibonacci level is lying.
Resistance for the commodity lies in the zone of 200 to 202 where 200 Daily SMA and
Fibonacci level is lying. If the commodity manages to close above these levels then the
commodity can move to the levels of 210 to 212 where medium term moving averages and
Fibonacci levels are lying.
NATURAL GAS

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mentioned. No representations can be made that the recommendations contained herein will be profitable or
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