EquityPandit’s Outlook for Zinc for the week  (Dec 18, 2017 – Dec 22, 2017) :

ZINC:

ZINC closed the week on a positive note gaining around 3.00%.

As we have mentioned last week, that resistance for the commodity lies in the zone of 202 to 204 where medium term moving averages are lying. If the commodity manages to close above these levels then the commodity can move to the levels of 208 to 210 where short term moving averages are lying. During the week the commodity manages to hit a high of 207 and close the week around the levels of 205.

Minor support for the commodity lies in the zone of 202 to 204. Support for the commodity lies in the zone of 196 to 198 where break out levels for the commodity is lying. If the commodity manages to close below these levels then the commodity can drift to the levels of around 188 to 190 where long term moving averages are lying.

Resistance for the commodity lies in the zone of 208 to 210 where short term moving averages are lying. If the commodity manages to close above these levels then the commodity can move to the levels of 216 to 218 where the commodity has formed a top in the month of October-2017 and November-2017.

Broad range for the commodity in the coming week can be seen between 195 – 197 on downside & 216 – 218 on upside.