Market Overview

Technical Forecast for Zinc

Technical Forecast for Zinc


Zinc beat 1891/92 & closed above the 2 year trend line at 1910/14 to signal continued gains to 1933/37 & a possible high for the day. However a break above here cannot be ruled out with the market showing good signs of strength to target 1961, possibly even 1970/74. This could mark the high for this week if we stretch this far. Exit all longs & try shorts with stops above 1994.
Support at 1914 then 1894/91. We need a bounce from here or the outlook weakens again with 1879 then 1867/62 supports likely to be tested. Below 1855 look for 1838.

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Posted-In: Technicals Commodities Markets Trading Ideas


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