EquityPandit’s Outlook for Zinc for the week  (June 11, 2018 – June 15, 2018) :

ZINC:

ZINC closed the week on a positive note gaining around 4.70%.

As we have mentioned last week, that support for the commodity lies in the zone of 200 to 205 where the commodity has taken multiple support in the month of October-2017 and December-2017. If the commodity manages to close below these levels then the commodity can drift to the levels of around 188 to 190 where Fibonacci levels and lows for the month of September-2017 is lying. During the week the commodity manages to hit a low of 206 and close the week around the levels of 217.

Support for the commodity lies in the zone of 212 to 215 where short & long term moving averages and Fibonacci levels are lying. If the commodity manages to close below these levels then the commodity can drift to the levels of 200 to 205 where the commodity has taken multiple support in the month of October-2017 and December-2017.

Resistance for the commodity lies in the zone of 218 to 220 where high for month of April-2018 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.