Weekly Outlook for Precious Metal, Energy & Metals (February 27, 2017 - March 03, 2017)

DATE: 24/02/2017
WEEKLY OUTLOOK FOR
PRECIOUS METAL, ENERGY
AND
METALS
(27/02/2017 - 03/03/2017)
© 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.
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Surat - 395009
Gujarat
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GOLDPAGE 2
GOLD (29623) closed the week with a positive note gaining around 0.90%.
As we have mentioned last week that minor resistance for the commodity lies in the zone of
29400 to 29450. Resistance for the commodity Gold lies in the zone of 29650 to 26750
where Fibonacci levels and 200 Daily SMA is lying. If the commodity manages to close above
these levels then the commodity can move to the levels of 30300 to 30500 where Fibonacci
levels are lying. During the week the commodity manages to hit a high of 29640 and close the
week around the levels of 29623.
Minor support for the commodity lies in the zone of 29400 to 29450. Support for the com-
modity lies in the zone of 29300 to 29350 from where the commodity broke out on intraday
basis. If the commodity manages to close below these levels then the commodity can drift to
the levels of 29000 to 29100 where Fibonacci level is lying.
Resistance for the commodity lies in the zone of 29650 to 26750 where Fibonacci levels and
200 Daily SMA is lying. If the commodity manages to close above these levels then the com-
modity can move to the levels of 30300 to 30500 where Fibonacci levels are lying.
Broad range for the commodity in the coming week can be seen between 29100 - 29200 on
downside and 29900 - 30000 on upside.

SILVER (43353) closed the week with a positive note gaining around 1.00%.
As we have mentioned last week that minor support for the commodity lies in the zone of around
42400 to 42500. Support for the commodity lies in the zone of 42000 to 42200 from where the
commodity broke out and Fibonacci levels are lying. If the commodity manages to close below
these levels then the commodity can drift to the levels of 41200 to 41300 where the commodity
has taken multiple support and medium term moving averages are lying. During the week the
commodity manages to hit a low of 42415 and close the week around the levels of 43353.
Minor support for the commodity lies in the zone of around 42800 to 43000. Support for the
commodity lies in the zone of 42400 to 42500 where the commodity has taken multiple support
on intraday basis. If the commodity manages to close below these levels then the commodity can
drift to the levels of 42000 to 42200 where Fibonacci level is lying.
Resistance for the commodity lies in the zone of 43500 to 43700 where Fibonacci levels is lying.
If the commodity manages to close above these levels then the commodity can move to the levels
of 44400 to 44600 where Fibonacci levels and commodity sold off in the month of November-
2016.
Broad range for the commodity in the coming week can be seen between 42400 - 42500 on
downside and 43900 - 44000 on upside.
SILVER

COPPER (394) closed the week with a negative note losing around 1.50%.
As we have mentioned last week that resistance for the commodity lies in the zone of 406 to 407
where trend-line joining highs of 414.80 and 409.50 is lying. If the commodity manages to close
above these levels then the commodity can move to the levels of 414 to 416 where the commod-
ity has made a high in the month of November-2016. During the week the commodity manages
to hit a high of 407 and close the week around the levels of 394.
Support for the commodity lies in the zone of 390 to 392 where Fibonacci level and short term
moving averages are lying. If the commodity manages to close below these levels then the com-
modity can drift to the levels of 382 to 384 from where the commodity broke out after consolida-
tion.
Minor resistance for the commodity lies in the zone of 396 to 398. Resistance for the commodity
lies in the zone of 406 to 407 where trend-line joining highs of 414.80 and 409.50 is lying. If the
commodity manages to close above these levels then the commodity can move to the levels of
414 to 416 where the commodity has made a high in the month of November-2016.
Broad range for the commodity in the coming week can be seen between 382 - 384 on downside
and 404 - 406 on upside.
COPPER

ZINC (188.95) closed the week with a positive note gaining around 0.50%.
As we have mentioned last week that support for the commodity lies in the zone of 184 to 186
where the commodity has taken multiple support 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
179 to 181 from where the commodity broke out after consolidation and Fibonacci levels are ly-
ing. During the week the commodity manages to hit a low of 185 and close the week around the
levels of 188.95.
Support for the commodity lies in the zone of 184 to 186 where the commodity has taken multi-
ple support 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 179 to 181 from where the commodity
broke out after consolidation and Fibonacci levels are lying.
lies in the zone of 198 to 200. Resistance for the commodity lies in the zone of 204 to 206 where
52 week highs for the commodity is lying. If the commodity manages to close above these levels
then the commodity can move to the levels of around 210.
ZINC

LEAD (150.50) closed the week with a negative note losing around 0.40%.
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. During the week the commodity manages to hit a low of 148.10 and close the
week around the levels of 150.50.
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.
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.
LEAD

NICKEL (723.70) closed the week with a negative note losing around 2.20%.
As we have mentioned last week that resistance for the commodity lies in the zone of 748 to 750
where Fibonacci level and the commodity broke down from multiple support zone. If the com-
modity manages to close above these levels then the commodity can move to the levels of 765 to
770 from where the commodity broke down on weekly basis. During the week the commodity
manages to hit a high of 745 and close the week around the levels of 723.70.
Support for the commodity lies in the zone of around 718 to 720 where medium term moving
averages are lying. If the commodity manages to close below these levels then the commodity
can drift to the levels of 700 to 705 from where the commodity broke out on intraday basis and
Fibonacci levels are lying.
lies in the zone of 748 to 750 where Fibonacci level and the commodity broke down from multi-
ple support zone. If the commodity manages to close above these levels then the commodity can
move to the levels of 765 to 770 from where the commodity broke down on weekly basis.
NICKEL

ALUMINIUM (125.90) closed the week with a positive note gaining around 0.20%.
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 and Fibonacci level is lying. If the
commodity manages to close below these levels then the commodity can drift to the levels of 120
to 121 where short term moving averages and Fibonacci level is lying. During the week the com-
modity manages to hit a low of 123.55 and close the week around the levels of 125.90.
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 and
Fibonacci level is lying. If the commodity manages to close below these levels then the commod-
ity can drift to the levels of 120 to 121 where short term moving averages and 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 com-
modity can move to the levels of 128 to 129 where the commodity has formed a high in the
month of January-2017.
ALUMINIUM

CRUDE OIL (3615) closed the week with a positive note gaining around 1.00%.
As we have mentioned last week that minor resistance for the commodity lies in the zone of
3620 to 3630. Resistance for the commodity lies in the zone of 3740 to 3770 from where the
commodity sold off in the month of January-2017. If the commodity manages to close above
these levels then the commodity can move to the levels of 3950 to 4000 where the commodity
has formed a double top pattern and sold off. During the week the commodity manages to hit a
high of 3694 and close the week around the levels of 3615.
Minor support for the commodity lies in the zone of 3580 to 3600. Support for the commodity
lies in the zone of 3530 to 3550 where the commodity has taken multiple support on daily basis.
If the commodity manages to close below these levels then the commodity can drift to the levels
of 3450 to 3480 where medium term moving averages, Fibonacci level and trend-line joining
earlier highs are lying.
Minor resistance for the commodity lies in the zone of 3620 to 3630. Resistance for the commod-
ity lies in the zone of 3690 to 3710 where the commodity is facing multiple resistance. If the
3750 to 3780 where the commodity has formed a high in the month of January-2017.
Broad range for the commodity in the coming week can be seen between 3500 - 3530 on down-
side and 3690 - 3710 on upside.
CRUDE OIL

NATURAL GAS (184.40) closed the week with a negative note losing around 3.60%.
where Fibonacci level is lying. If the commodity manages to close below these levels then the
commodity can drift to the levels of 178 to 180 where Fibonacci levels are lying. During the week
the commodity manages to hit a low of 169 and close the week around the levels of 184.40.
Minor support for the commodity lies in the zone of 180 to 182. Support for the commodity lies
in the zone of 171 to 173 where the commodity has formed a bottom in the month of November-
2016 and Fibonacci level is lying. If the commodity manages to close below these levels then the
commodity can drift to the levels of 162 to 164 where long term Fibonacci levels are lying.
Resistance for the commodity lies in the zone of 188 to 190 where Fibonacci level is lying. If the
197 to 199 where 200 Daily SMA is 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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Weekly Outlook for Precious Metal, Energy & Metals (February 27, 2017 - March 03, 2017)

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