It looks like Zinc is toast from a technical perspective, with a major head and shoulders pattern being confirmed.
Cath Davey maintains that the close below the February low last week was negative and without a slow and steady recovery from here, the breakdown is unlikely to be a false one.
She said Zinc could rally as high as 3300, however the implication of this head and shoulder pattern is very large - possibly a fall of at least 30% maybe even 50%.
But as one commentator said, what about the fundamentals for Zinc, surely they are still really good, with LME inventories at really low levels and world demand growing, surely the only way for Zinc to go is up?
What is your view?
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