Technical Forecast for Zinc

Zinc continued higher as hoped to reach our 1933/37 target & carried on but could not reach 1961. We have closed below 1933/37 as we look very over bought in the short term so there is a risk of a drift back to good support at 1914/08 today. We expect a bounce from here but need stops below 1900 for 1891.

 

Above 1933/37 resistance we then need to beat yesterday’s high of 1948 for 1961 possibly even 1970/74. This should mark the high for this week if we stretch this far. Exit all longs & try shorts with stops above 1990.