EquityPandit’s Outlook for Zinc for the week  (Dec 10, 2018 – Dec 14, 2018) :

ZINC:

ZINC closed the week on a positive note gaining around 4.50%.

As we have mentioned last week, that 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. During the week the commodity manages to hit a high of 191 and close the week around the levels of 188.

Minor support for the commodity lies in the zone of 184 to 186. Support for the commodity lies in the zone of 180 to 182 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 172 to 175 where the commodity has formed a low in the month of November-2018.

Resistance for the commodity lies in the zone of 190 to 192 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 196 to 198 where Fibonacci levels are lying.

Broad range for the commodity in the coming week can be seen between 178 – 180 on downside & 195 – 197 on upside.