Technical forecast for zinc

zinc4

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.

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