Technical forecast for zinc

zinc1

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.

Jason Sen began his career in the options pits on the trading floor of LIFFE in 1987 at the age of 19, making markets on his own account. In 2001 when the trading floor closed he successfully made the transition to day trading on computer screens. Jason always had an interest in technical analysis throughout his trading career but began to study this area in depth from 2006. www.daytradeideas.com has established itself as the leading provider of... More