Weekly Outlook for Precious Metal, Energy and Metals for the week (08-05-2017 to 12-05-2017)

DATE: 05/05/2017
WEEKLY OUTLOOK FOR
PRECIOUS METAL, ENERGY
AND
METALS
(08/05/2017 - 12/05/2017)
© 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 (28072) closed the week on negative note losing around 2.80%.
As we have mentioned last week that support for the commodity lies in the zone of 28400 to
28500 from where the commodity broke out 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 28100 to 28200 where Fibonacci levels are lying. During the week the commodity
manages to hit a low of 28020 and close the week around the levels of 28072.
Support for the commodity lies in the zone of 27900 to 28000 where the commodity has
formed a bottom in the month of March-2017. If the commodity manages to close below
these levels then the commodity can witness a freefall and commodity can drift to the levels
of 26800 to 26900 where the commodity has formed a bottom in the month of December-
2016.
Resistance for the commodity lies in the zone of 28200 to 28300 where Fibonacci level is
lying. If the commodity manages to close above these levels then the commodity can move to
the levels of 28500 to 28600 where 200 Daily moving average is lying.
Broad range for the commodity in the coming week can be seen between 27100 - 27200 on
downside & 29000 - 29100 on upside.

SILVER (38305) closed the week on negative note losing around 3.00%.
39200 where weekly moving averages are lying. If the commodity manages to close below
these levels then the commodity can drift to the levels of around 38300 to 38500 where the
commodity has formed a bottom in the month of December-2016. During the week the
commodity manages to hit a low of 37504 and close the week around the levels of 38305.
Support for the commodity lies in the zone of 38300 to 38500 where the commodity has
formed a bottom in the month of December-2016 and long term Fibonacci level is lying. If
the commodity manages to close below these levels then the commodity can witness a
freefall and can drift to the levels of 35400 to 35500.
Resistance for the commodity lies in the zone of 39000 to 39300 from where the commodity
broke down. If the commodity manages to close above these levels then the commodity can
move to the levels of 39800 to 40000 from where the commodity broke down from major
support.
SILVER

COPPER (361.45) closed the week on negative note losing around 1.70%.
As we have mentioned last week that minor support for the commodity lies in the zone of
364 to 365. Support for the commodity lies in the zone of 360 to 362 where the commodity
has taken support in the month of November-2016 and 200 Daily moving averages are lying.
If the commodity manages to close below these levels then the commodity can drift to the
levels of 350 to 352 where Fibonacci level is lying. During the week the commodity manages
to hit a low of 356 and close the week around the levels of 361.
Support for the commodity lies in the zone of 360 to 362 where the commodity has taken
support in the month of November-2016 and 200 Daily moving averages are lying. If the
commodity manages to close below these levels then the commodity can drift to the levels of
350 to 352 where Fibonacci level is lying.
Minor resistance for the commodity lies in the zone of 364 to 365. 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 (166.70) closed the week on a negative note losing around 1.60%.
As we have mentioned last week that minor support for the commodity lies in the zone of
167 to 168. 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. During
the week the commodity manages to hit a low of 163 and close the week around the levels of
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 where 200 Daily moving
averages are lying. 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 (140.45) closed the week on negative note losing around 4.00%.
As we have mentioned last week that resistance for the commodity lies in the zone of 147 to
149 from where the commodity broke down after consolidation and Fibonacci level is lying.
If the commodity manages to close above these levels then the commodity can move to the
levels of 153 to 155 where Fibonacci level is lying. During the week the commodity manages
to hit a high of 147 and close the week around the levels of 140.
The commodity has closed below the support zone of 142 to 143 where Fibonacci levels and
200 Daily moving averages are lying. If the commodity manages to close below these levels
then the commodity can drift to the levels of around 136 to 138 where the commodity has
formed a short term bottom. If the commodity manages to close below these levels then the
commodity can witness a freefall.
Minor resistance for the commodity lies around 143 to 144. Resistance for the commodity
lies in the zone of 147 to 149 from where the commodity broke down after consolidation and
Fibonacci level is lying. If the commodity manages to close above these levels then the
commodity can move to the levels of 153 to 155 where Fibonacci level is lying.
LEAD

NICKEL (589.70) closed the week on negative note losing around 3.10%.
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.
During the week the commodity manages to hit a low of 575 and close the week around the
levels of 590.
Support for the commodity lies in the zone of 570 to 580. 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 630 to 635 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 medium term moving averages
are lying.
NICKEL

ALUMINIUM (122.05) closed the week on negative note losing around 1.50%.
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 121.75 and close the week around
the levels of 122.05.
Support for the commodity lies in the zone of around 121 to 121.50 where Fibonacci level is
the levels of 120 to 120.50 where Fibonacci level is lying.
Resistance for the commodity lies in the zone of 123 to 123.50 where Fibonacci level and
medium term moving averages are lying. If the commodity manages to close above these
levels then the commodity can move to the levels of 125 where Fibonacci level and short
term moving averages are lying.
downside and 124 - 125 on upside.
ALUMINIUM

CRUDE OIL (2969) closed the week on a negative note losing around 6.50%.
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. During the week the
commodity manages to hit a low of 2839 and close the week around the levels of 2969.
Support for the commodity lies in the zone of 2880 to 2900 where the commodity has taken
support in the month of September-2016 and November-2016. Support for the commodity
lies in the zone of 2730 to 2750 where long term Fibonacci levels are lying. If the commodity
manages to close below these levels then the commodity can witness a freefall and can drift
to the levels of 2630 to 2650 where the commodity has formed a bottom in the month of
August-2016.
commodity lies in the zone of 3080 to 3100 where Fibonacci levels and break down levels
are lying. If the commodity manages to close above these levels then the commodity can
move to the levels of 3230 to 3250 where Fibonacci levels are lying.
CRUDE OIL

NATURAL GAS (210.20) closed the week on negative note losing around 0.90%.
205 where Fibonacci levels and 200 Daily moving averages are lying. If the commodity
manages to close below these levels then the commodity can drift to the levels of 197 to 198
where short term moving averages are lying. During the week the commodity manages to hit
a low of 204 and close the week around the levels of 210.
Minor support for the commodity lies in the zone of 207 to 208. Support for the commodity
lies in the zone of 203 to 205 where Fibonacci levels and 200 Daily moving averages are
the levels of 197 to 198 where short term moving averages are lying.
Resistance for the commodity lies in the zone of 213 to 215 where Fibonacci levels are lying.
If the commodity manages to close above these levels then the commodity can move to the
levels of around 221 to 223 where Fibonacci levels are lying.
NATURAL GAS

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Disclaimer:
The recommendations made herein do not constitute an offer to sell or a solicitation to buy any of the securities
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
will vary accordingly.

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