EquityPandit’s Outlook for Zinc for the week  (Dec 03, 2018 – Dec 07, 2018) :

ZINC:

ZINC closed the week on a positive note gaining around 0.60%.

As we have mentioned last week, that 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. During the week the commodity manages to hit a low of 173 and close the week around the levels of 180.

Minor support for the commodity lies in the zone of 173 to 175. Support for the commodity lies in the zone of 163 to 166 where Fibonacci levels and low for the month of August-2018 & September-2018 are lying. If the commodity manages to close below these levels then the commodity can drift to the levels of 155 to 158 where the commodity has taken support in the month of June-2017.

Minor resistance for the commodity lies in the zone of 181 to 183. Resistance for the commodity lies in the zone of 185 to 188 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 192 to 195 where Fibonacci levels and long term moving averages are lying.

Broad range for the commodity in the coming week can be seen between 165 – 170 on downside & 190 – 195 on upside.