EquityPandit’s Outlook for Zinc for the week  (June 18, 2018 – June 22, 2018) :

ZINC:

ZINC closed the week on a negative note losing around 2.50%.

As we have mentioned last week, that 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. During the week the commodity manages to hit a high of 219 and close the week around the levels of 212.

Support for the commodity lies in the zone of 210 to 212 where short & medium 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 May-2018.

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 & 220 – 225 on upside.