EquityPandit’s Outlook for Zinc for the week  (Sep 24, 2018 – Sep 28, 2018) :

ZINC:

ZINC closed the week on a positive note gaining around 9.60%.

As we have mentioned last week, that minor resistance for the commodity lies around 170 to 173. Resistance for the commodity lies in the zone of 178 to 180 where Fibonacci levels and short term moving averages are lying. If the commodity manages to close above these levels then the commodity can move to the levels of 185 to 187 where high for the month of August-2018 is lying. During the week the commodity manages to hit a high of 184 and close the week around the levels of 182.

Support for the commodity lies in the zone of 178 to 180 where Fibonacci 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 170 to 173 where break out levels are lying.

Resistance for the commodity lies in the zone of 185 to 187 where high for the month of August-2018 is lying. If the commodity manages to close above these levels then the commodity can move to the levels of 190 to 192 where long term moving averages and Fibonacci levels are lying.

Broad range for the commodity in the coming week can be seen between 170 – 175 on downside & 190 – 195 on upside.