EquityPandit’s Outlook for Zinc for the week  (Jan 28, 2019 – Feb 1, 2019) :

ZINC:

ZINC closed the week on a positive note gaining around 3.20%.

As we have mentioned last week, that minor support for the commodity lies in the zone of 182 to 184. Support for the commodity lies in the zone of 178 to 180 where Fibonacci levels and short term moving averages are lying. If the commodity manages to close below these levels then the commodity can drift to the levels of 174 to 176 where Fibonacci levels are lying. During the week the commodity manages to hit a low of 183 and close the week around the levels of 191.

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.

Resistance 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 above these levels then the commodity can move to the levels of 198 to 200 where Fibonacci levels are lying.

Broad range for the commodity in the coming week can be seen between 183 – 185 on downside & 198 – 200 on upside.