EquityPandit’s Outlook for Zinc for the week  (Mar 26, 2018 – Mar 28, 2018) :

ZINC:

ZINC closed the week on a negative note losing around 1.40%.

As we have mentioned last week, that 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. During the week the commodity manages to hit a low of 207 and close the week around the levels of 210.

Support for the commodity lies in the zone of 200 to 205 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 around 190 to 195 where Fibonacci levels and lows for the month of September-2017 is lying.

Resistance for the commodity lies in the zone of 215 to 220 where short & medium term moving averages and Fibonacci levels 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 190 – 195 on downside & 225 – 230 on upside.