EquityPandit’s Outlook for Zinc for the week  (Dec 17, 2018 – Dec 21, 2018) :

ZINC:

ZINC closed the week on a negative note losing around 2.50%.

As we have mentioned last week, that 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. During the week the commodity manages to hit a high of 192 and close the week around the levels of 183.

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.

Minor support for the commodity lies in the zone of 185 to 187. 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 172 – 175 on downside & 190 – 193 on upside.