EquityPandit’s Outlook for Zinc for the week  (July 10, 2017 – July 14, 2017) :

ZINC:

ZINC (180.30) closed the week on a positive note gaining around 1.10%.

As we have mentioned last week, that resistance for the commodity lies in the zone of 178 to 180 where Fibonacci levels are lying. If the commodity manages to close above these levels then the commodity can move to the levels of 188 to 190 where channel resistance for the commodity is lying. During the week the commodity manages to hit a high of 183 and close the week around the levels of 180.

Support for the commodity lies in the zone of 178 to 180 where Fibonacci levels are lying. If the commodity manages to close below these levels then the commodity can drift to the levels of around 173 to 174 where 200 Daily moving averages and break out levels are lying.

Minor resistance for the commodity lies in the zone of 183 to 184. Resistance for the commodity lies in the zone of 188 to 190 where channel resistance for the commodity is lying. If the commodity manages to close above these levels then the commodity can move to the levels of 195 to 198 where the commodity has formed a top in the month of February-2017.

Broad range for the commodity in the coming week can be seen between 170 – 172 on downside & 188 – 190 on upside.