EquityPandit’s Outlook for Zinc for the week (Sep 18, 2017 – Sep 22, 2017) :
ZINC (194.90) closed the week on a positive note gaining around 0.70%.
Support for the commodity lies in the zone of 189 to 191 where break out levels and short term moving averages are lying. If the commodity manages to close below these levels then the commodity can drift to the levels of around 183 to 185 where trend-line support for the commodity is lying.
Resistance for the commodity lies in the zone of 195 to 197 from where the commodity has broken down from the consolidation. If the commodity manages to close above these levels then the commodity can move to the levels of 204 to 206 where trend-line joining highs of 208 and 204 are lying.
Broad range for the commodity in the coming week can be seen between 185 – 187 on downside & 205 – 207 on upside.