Monday, October 03, 2016 6:30:21 PM
Zinc - $1.10 is level to watch this week!
September correction to $1.00 looks like normal rally correction and zinc keeps going up now at $1.09 today! Just shy of $1.10 multi-year ceiling. Per below $1.10 number is one to watch as if zinc keeps going past there we're officially in a bull market and this is not just a mean reversion rally. Need to look back my notes but Wood Mackenzie (authority on zinc) is forecasting prices to peak at $1.80 to $1.90 in 2018 I believe. If we get a new Zinc ETF out of london hording or similar I'm sure someone will try what they can to push it higher.
September correction to $1.00 looks like normal rally correction and zinc keeps going up now at $1.09 today! Just shy of $1.10 multi-year ceiling. Per below $1.10 number is one to watch as if zinc keeps going past there we're officially in a bull market and this is not just a mean reversion rally. Need to look back my notes but Wood Mackenzie (authority on zinc) is forecasting prices to peak at $1.80 to $1.90 in 2018 I believe. If we get a new Zinc ETF out of london hording or similar I'm sure someone will try what they can to push it higher.
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