EquityPandit’s Outlook for Zinc for the week  (Mar 12, 2018 – Mar 16, 2018) :

ZINC:

ZINC closed the week on a negative note losing around 2.60%.

As we have mentioned last week, that support for the commodity lies in the zone of 215 to 217 where the commodity has taken multiple support in the month of January-2018. If the commodity manages to close below these levels then the commodity can drift to the levels of around 210 to 212 from where the commodity broke out of December-2017 high. During the week the commodity manages to hit a low of 208 and close the week around the levels of 214.

Support for the commodity lies in the zone of 210 to 212 from where the commodity broke out of December-2017 high. If the commodity manages to close below these levels then the commodity can drift to the levels of around 200 to 205 where Fibonacci levels and long term moving averages are lying.

Minor resistance for the commodity lies in the zone of 215 to 217. Resistance for the commodity lies in the zone of 220 to 223 where short term moving averages are lying. If the commodity manages to close above these levels then the commodity can move to the levels of 228 to 230 where the commodity has formed a top in the month of January-2018.

Broad range for the commodity in the coming week can be seen between 205 – 210 on downside & 230 – 235 on upside.