Zinc prices rose getting support from gradually declining inventories in warehouses monitored by Shanghai Futures Exchange, which indicate good demand for the metal in China, the world's largest base metals consumer. Zinc yesterday we have seen that market has moved 1.28%. Market has opened at 101.4 & made a low of 100.9 versus the day high of 103.4. The total volume for the day was at 33394 lots and the open interest was at 5490.Now support for the zinc is seen at 101.3 and below could see a test of 99.8. Resistance is now likely to be seen at 103.8, a move above could see prices testing 104.8.

Trading Ideas:

Zinc trading range is 99.8-104.8.

Zinc rose getting support from declining inventories in Shanghai Futures Exchange warehouses

Resistance for zinc is seen at 103.80 and support is at 101.30.

Zinc daily stock at Shanghai exchange came up by 704 tonnes.