EquityPandit’s Outlook for Zinc for the week  (Apr 09, 2018 – Apr 13, 2018) :

ZINC:

ZINC closed the week on a negative note losing around 1.10%.

As we have mentioned last week, that minor support for the commodity lies in the zone of 209 to 211. Support for the commodity lies in the zone of 200 to 205 where Fibonacci levels and long 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 195 where Fibonacci levels and lows for the month of September-2017 is lying. During the week the commodity manages to hit a low of 208 and close the week around the levels of 211.

Minor support for the commodity lies in the zone of 209 to 211. Support for the commodity lies in the zone of 200 to 205 where Fibonacci levels and long 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 195 where Fibonacci levels and lows for the month of September-2017 is lying.

Resistance for the commodity lies in the zone of 215 to 220 where short & medium term moving averages and Fibonacci levels are lying. If the commodity manages to close above these levels then the commodity can move to the levels of 228 to 230 where the commodity has formed a top in the month of January-2018.

Broad range for the commodity in the coming week can be seen between 200 – 205 on downside & 225 – 230 on upside.