Zinc Today

Technical Comment Analysis

• Zinc prices are consolidating recent strong gains. The market looks bullish but bouts of consolidation should be expected along the way. On the daily chart (not shown) the stochastics have turned lower, suggesting consolidation is the order of the day.
• Our upside target remains $2,275, which is the H&S target.
• We expect dips to continue to find support and for the upward trend to continue.
• This monthly chart shows prices are approaching the upper third of the seven-year trading range. The lower third was the V-shaped sell-off from 2015 to early-2016, the middle ground is the 2012-2014 sideways trading range and the upper third is the high ground seen during 2010-2011, 2014 and 2015. With prices now at the upper end of the middle zone, it would not take a lot more gain to put prices back in the high ground. So while prices may get up to the resistance line /DTL, we would not be surprised if zinc is capped around $2,250.

The link has a lot more -

https://www.fastmarkets.com/base-me...roaching-upper-third-seven-year-range-116762/