EquityPandit’s Outlook for Zinc for the week  (July 02, 2018 – July 06, 2018) :

ZINC:

ZINC closed the week on a negative note losing around 1.60%.

As we have mentioned last week, that support for the commodity lies in the zone of 195 to 200 where the commodity has formed a low in the month of December-2017 and May-2018. If the commodity manages to close below these levels then the commodity can drift to the levels of 185 to 190 where the commodity has hit a low in the month of September-2017. During the week the commodity manages to hit a low of 194 and close the week around the levels of 198.

Support for the commodity lies in the zone of 195 to 200 where the commodity has formed a low in the month of December-2017 and May-2018. If the commodity manages to close below these levels then the commodity can drift to the levels of 185 to 190 where the commodity has hit a low in the month of September-2017.

Resistance 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 above these levels then the commodity can move to the levels of 218 to 220 where high for month of April-2018 and Fibonacci levels are lying.

Broad range for the commodity in the coming week can be seen between 180 – 185 on downside & 210 – 215 on upside.