Weekly Outlook for Precious Metal, Energy & Metals (02/05/2017 to 05/05/2017)

DATE: 28/04/2017
WEEKLY OUTLOOK FOR
PRECIOUS METAL, ENERGY
AND
METALS
(01/05/2017 - 05/05/2017)
© 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 (28873) closed the week on negative note losing around 1.80%.
As we have mentioned last week that 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 Fibo-
nacci level is lying. If the commodity manages to close below these levels then the commod-
ity can drift to the levels of 28400 to 28500 from where the commodity broke out. During the
week the commodity manages to hit a low of 28660 and close the week around the levels of
28873.
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 Fibo-
nacci levels are lying.
Resistance for the commodity lies in the zone of 29000 to 29100 where Fibonacci level is ly-
ing. If the commodity manages to close above these levels then the commodity can move to
the levels of 29400 to 29500 from where the commodity sold off in the month of March-2017
and 200 Daily moving average is lying.
Broad range for the commodity in the coming week can be seen between 28100 - 28200 on
downside & 29400 - 29500 on upside.

SILVER (39503) closed the week on negative note losing around 4.30%.
As we have mentioned last week that 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. During the week the stock manages to hit a low of 39400 and close the
week around the levels of 39503.
Support for the commodity lies in the zone of 39100 to 39200 where weekly moving aver-
ages 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.
Minor resistance for the commodity lies in the zone of 39800 to 40000. Resistance for the
commodity lies in the zone of 40500 to 40700 where Fibonacci levels are lying. If the com-
modity manages to close above these levels then the commodity can move to the levels of
41300 to 41500 where medium term moving averages are lying.
SILVER

COPPER (367.60) closed the week on positive note gaining around 1.30%.
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 com-
modity manages to hit a low of 361 and close the week around the levels of 368.
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 No-
vember-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.
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.
Broad range for the commodity in the coming week can be seen between 355 - 357 on down-
side & 375 - 377 on upside.
COPPER

ZINC (169.45) closed the week on a positive note gaining around 1.70%.
As we have mentioned last week that 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. During the week the com-
modity manages to hit a high of 170 and close the week around the levels of 169.
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.
Resistance for the commodity lies in the zone of 169 to 170 where 200 Daily moving aver-
ages 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 com-
modity can move to the levels of 179 to 181 where Fibonacci level is lying.
ZINC

LEAD (146.35) closed the week on positive note gaining around 5.20%.
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. During the
week the commodity manage to hit a high of 147 and close the week around the levels of
146.
Support for the commodity lies in the 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.
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 Fi-
bonacci level is lying.
side and 155 - 157 on upside.
LEAD

NICKEL (608.90) closed the week on positive note gaining around 0.70%.
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 587 and close the week around the
levels of 609.
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 commod-
ity 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 com-
modity 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 (123.90) closed the week on negative note losing around 0.60%.
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. During the week the com-
modity manages to hit a high of 126 and close the week around the levels of 123.90.
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 lev-
els 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.
side and 126 - 127 on upside.
ALUMINIUM

CRUDE OIL (3174) closed the week on a negative note losing around 1.10%.
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 3101 and close the week around the levels of 3174.
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 3230 to 3240 where Fibonacci levels are ly-
ing. 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 (212.10) closed the week on positive note gaining around 5.40%.
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 Fibo-
nacci levels are lying. During the week the commodity manages to hit a low of 194.60 and
close the week around the levels of 212.
Support 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 below these levels then
the commodity can drift to 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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