Type: Bullish MomentumKey Levels:Resistance: 354.15Pivot: 326.7Support: 309.05Preferred Case:On the H4, with price moving above the ichimoku cloud and within the ascending trend channel, we have a bullish bias that price will rise from the pivot at 326.7 in line with the 78.6% fibonacci projection to the overlap resistance at 354.15 in line with the 61.8% fibonacci retracement .Alternative Scenario:Price may break the support structure at the pivot and drop to the swing low and support level at 309.05 in line with the 78.6% fibonacci retracement .Fundamentals:We have a bullish view on zinc as supply has fallen short of demand due to the Russian-Ukraine war.
Source: Tickmill