EquityPandit’s Outlook for Zinc for the week  (Feb 4, 2019 – Feb 8, 2019) :

ZINC:

ZINC closed the week on a positive note gaining around 4.30%.

As we have mentioned last week, that support for the commodity lies in the zone of 188 to 190 where Fibonacci levels and long term moving averages are lying. If the commodity manages to close below these levels then the commodity can drift to the levels of 183 to 185 where Fibonacci levels and medium term moving averages are lying. During the week the commodity manages to hit a low of 190 and close the week around the levels of 199.

Support for the commodity lies in the zone of 193 to 195 where Fibonacci levels and high for the month of November-2018 is lying. If the commodity manages to close below these levels then the commodity can drift to the levels of 188 to 190 where Fibonacci levels and long term moving averages are lying.

Resistance for the commodity lies in the zone of 198 to 200 where Fibonacci levels are lying. If the commodity manages to close above these levels then the commodity can move to the levels of 204 to 206 where Fibonacci levels are lying.

Broad range for the commodity in the coming week can be seen between 190 – 183 on downside & 205 – 207 on upside.