Technical forecast for zinc

zinc3

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.

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