EquityPandit’s Outlook for Zinc for the week  (Sep 03, 2018 – Sep 07, 2018) :

ZINC:

ZINC closed the week on a negative note losing around 1.10%.

As we have mentioned last week, that resistance for the commodity lies in the zone of 180 to 182 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 190 to 195 from where the commodity broke down from June-2018 lows. During the week the commodity manages to hit a high of 180 and close the week around the levels of 176.

Minor support for the commodity lies around 172 to 174. Support for the commodity lies in the zone of 164 to 167 where long term Fibonacci levels and low for the month of August-2018 are lying. If the commodity manages to close below these levels then the commodity can drift to the levels of 150 to 155 where the commodity has formed a bottom in the month of June-2017.

Resistance for the commodity lies in the zone of 180 to 182 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 190 to 195 from where the commodity broke down from June-2018 lows.

Broad range for the commodity in the coming week can be seen between 165 – 170 on downside & 185 – 190 on upside.