Zinc yesterday traded with the negative node and settled -1.05% down at 105 as concern over china that can take additional tightening monetary policies to curb economic growth did not ease. In this context, LME zinc prices overnight continued to dip, down USD 15/mt, with prices finally closing at USD 2,305/mt and struggling at the 60-day moving average.In yesterday's trading session zinc has touched the low of 104.2 after opening at 106.25, and finally settled at 105. For today's session market is looking to take support at 103.7, a break below could see a test of 102.4 and where as resistance is now likely to be seen at 106.8, a move above could see prices testing 108.7.

Trading Ideas:

Zinc trading range is 102.4-108.7.

Zinc yesterday traded with the negative node on concern over china

Zinc looks to take resistance at 106.20 and support is at 103.80 level.

Zinc daily stocks at Shanghai exchange came up by 202 tonnes