Zinc yesterday traded with the positive node and settled 0.13% up at 111.35 but overall since last 2 session market is dull and trading in the tight band, according to data released last night, the US preliminary jobless claims for the week ending Feb. 5th fell to 383k compared to the forecast of 410k, the lowest level since July 5th, 2008. US dollar index overnight rebounded to 78 from 77.6, weighing down LME zinc prices. LME zinc prices finally closed at USD 2,430/mt, down USD 50/mt, and with prices falling below the 10-day moving average. The market took a cautious attitude In yesterday's trading session zinc has touched the low of 109.9 after opening at 111.45, and finally settled at 111.35. For today's session market is looking to take support at 110.2, a break below could see a test of 109.1 and where as resistance is now likely to be seen at 112.2, a move above could see prices testing 113.

Trading Ideas:

Zinc trading range is 109.1-113.

Zinc ended positive but overall since last 2 session market is dull and trading in the tight band

Zinc looks to take resistance at 112.50 and support is at 110.20 level.

Zinc daily stocks at Shanghai exchange came unchanged