EquityPandit’s Outlook for Zinc for the week  (Oct 30, 2017 – Nov 03, 2017) :

ZINC:

ZINC closed the week on a positive note gaining around 2.50%.

As we have mentioned last week, that support for the commodity lies in the zone of 202 to 204 where trend-line joining highs of 208 and 204 is lying 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 around 190 to 192 where break out levels and medium term moving averages are lying. During the week the commodity manages to hit a low of 205 and close the week around the levels of 210.

Minor support for the commodity lies in the zone of 206 to 207. Support for the commodity lies in the zone of 202 to 204 where trend-line joining highs of 208 and 204 is lying 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 around 190 to 192 where break out levels and medium term moving averages are lying.

Resistance for the commodity lies in the zone of 214 to 216. If the commodity manages to close above these levels then the commodity can move to the levels of 218 to 220 where the commodity has formed a short term top.

Broad range for the commodity in the coming week can be seen between 200 – 202 on downside & 218 – 220 on upside.