Zinc May Climb to $2,736, Commerzbank Says: Technical Analysis

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.

For the full story, click here.