EquityPandit’s Outlook for Zinc for the week  (Mar 05, 2019 – Mar 08, 2019) :

ZINC:

ZINC closed the week on a positive note gaining around 2.60%.

As we have mentioned last week, that support for the commodity lies in the zone of 187 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 180 to 183 where Fibonacci levels and medium term moving averages are lying. During the week the commodity manages to hit a low of 191 and close the week around the levels of 199.

Minor support for the commodity lies around 193 to 195. Support for the commodity lies in the zone of 187 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 180 to 183 where Fibonacci levels and medium 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 and high for the month of February-2019 is lying.

Broad range for the commodity in the coming week can be seen between 187 – 190 on downside & 206 – 209 on upside.