Here is what I said on 7th Of December. The chart from that day is reproduced below:
Yesterday, we almost reached the upper boundary of the expected area of correction zone 2530-2500, as zinc hit the low of 2548.50
Here is the daily chart with the latest developments:
Daily chart is reflecting the correction to be continued in coming days, there is a lot of ground to be covered.
Here is the 5 hr chart of zinc:
Zinc stopped just above the first expected corrective area and we are not getting any type of diversion on MACD which most often appears with C (5 wave structure in c is also missing here). So far, it seems like that correction will continue in the coming days after a small bounce. We will have a look on the lower time frame to know the internal structure of wave C after thin trading sessions of the upcoming holidays
after 1 January.
Resistance: 2655/2700
Support: 2550/2480