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Zinc May Climb to $2,736, Commerzbank Says: Technical Analysis
Oct. 21, 2010 11:08AM PST
Base Metals Investing Bloomberg.com reports that a techincal analysis by Comerzbank AG predicts that zinc may climb to $2,736 a metric tonne, which would equal a 9.9 % increase from it’s current price. The story is quoted as saying: Zinc has maintained upside pressure following the break above the four-year resistance line and the 200-week moving average,” Axel […]
Bloomberg.com reports that a techincal analysis by Comerzbank AG predicts that zinc may climb to $2,736 a metric tonne, which would equal a 9.9 % increase from it’s current price.
The story is quoted as saying:
Zinc has maintained upside pressure following the break above the four-year resistance line and the 200-week moving average,” Axel Rudolph, a technical strategist at Commerzbank in London, said today in a report. The metal is “thus poised on reaching the $2,550 area,” and $2,736 “also remains in view,” he said.