EquityPandit’s Outlook for Zinc for the week  (Nov 26, 2018 – Nov 30, 2018) :

ZINC:

ZINC closed the week on a negative note losing around 5.30%.

As we have mentioned last week, that resistance for the commodity lies in the zone of 194 to 196 where Fibonacci levels and long term moving averages are lying. If the commodity manages to close above these levels then the commodity can move to the levels of 198 to 200 where Fibonacci levels are lying. During the week the commodity manages to hit a high of 194 and close the week around the levels of 182.

Support for the commodity lies in the zone of 180 to 183 where Fibonacci levels and break out levels are lying. If the commodity manages to close below these levels then the commodity can drift to the levels of 173 to 175 where Fibonacci levels are lying.

Minor resistance for the commodity lies in the zone of 184 to 186. Resistance for the commodity lies in the zone of 188 to 190 where Fibonacci levels and short & medium term moving averages are lying. If the commodity manages to close above these levels then the commodity can move to the levels of 194 to 196 where Fibonacci levels and long term moving averages are lying.

Broad range for the commodity in the coming week can be seen between 170 – 173 on downside & 190 – 193 on upside.