EquityPandit’s Outlook for Zinc for the week  (Oct 01, 2018 – Oct 05, 2018) :

ZINC:

ZINC closed the week on a positive note gaining around 4.60%.

As we have mentioned last week, that resistance for the commodity lies in the zone of 185 to 187 where high for the month of August-2018 is lying. If the commodity manages to close above these levels then the commodity can move to the levels of 190 to 192 where long term moving averages and Fibonacci levels are lying. During the week the commodity manages to hit a high of 195 and close the week around the levels of 192.

Support for the commodity lies in the zone of 185 to 187 from where the commodity broke out of August-2018 high and Fibonacci levels are lying. If the commodity manages to close below these levels then the commodity can drift to the levels of 178 to 180 where Fibonacci levels and short term moving averages are lying.

Resistance for the commodity lies in the zone of 195 to 198 from where the commodity broke down from December-2017 & May-2018 lows and Fibonacci levels are lying. If the commodity manages to close above these levels then the commodity can move to the levels of 203 to 206 where Fibonacci levels are lying.

Broad range for the commodity in the coming week can be seen between 175 – 180 on downside & 200 – 205 on upside.