Technical Forecast for Zinc
Zinc just held Friday’s range. We have support again today at 1862 but below 1848 risks a test of last week’s low at 1817/16. Below here are October lows at 1813/12. Longs here this week need a stop below 1809 for 1800/1795 then 1779.
First resistance is at 1891/92 but bulls really need to see prices above the 2 year trend line at 1910/14. This is a strong resistance area & should hold a move higher but a break could signal continued gains to 1933/37. A break above here then targets 1961, possibly 1970/74. This could mark the high for this week if we stretch this far. Exit all longs & try shorts with stops above 1994.
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