EquityPandit’s Outlook for Zinc for the week  (July 09, 2018 – July 13, 2018) :

ZINC:

ZINC closed the week on a negative note losing around 5.70%.

As we have mentioned last week, that support for the commodity lies in the zone of 195 to 200 where the commodity has formed a low in the month of December-2017 and May-2018. If the commodity manages to close below these levels then the commodity can drift to the levels of 185 to 190 where the commodity has hit a low in the month of September-2017. During the week the commodity manages to hit a low of 185 and close the week around the levels of 191.

Support for the commodity lies in the zone of 185 to 190 where the commodity has hit a low in the month of September-2017. If the commodity manages to close below these levels then the commodity can drift to the levels of 170 to 175 where Fibonacci levels are lying.

Resistance for the commodity lies in the zone of 195 to 200 from where the commodity has broken down from the double bottom pattern. If the commodity manages to close above these levels then the commodity can move to the levels of 210 to 212 where short & medium term moving averages and Fibonacci levels are lying.

Broad range for the commodity in the coming week can be seen between 175 – 180 on downside & 205 – 210 on upside.