Zech 4:1-14

THE TWO ANOINTED ONES
Here, we meet the two anointed ones: the saints represented by Jan Huss and Martin Luther. The desolation of Jerusalem will come to an end by the hands of Zerubbabel, when he puts the capstone on the temple. The name Zerubbabel means “out of Babylon.” His shouts of “grace to it” signify the spirit of grace that will be poured out.
1 The angel who talked with me came again, and wakened me, as a man who is wakened out of his sleep. 2 He said to me, “What do you see?” I said, “I have seen, and, behold, a lampstand all of gold, with its bowl on the top of it, and its seven lamps thereon; there are seven pipes to each of the lamps, which are on the top of it; 
the Angel who talked with me came back – that is the Angel of Yihvah, (Zech 1:12,13). The Spirit of Christ is the one “who walks among the seven golden lampstands.” (Rev 2:1). These are Christ’s lampstands, and the Spirit of Christ has the power to take away the lampstand of a Church by withdrawing His Spirit (see Rev 2:5)

seven lamps and seven pipes – these seven pipes use the same oil. The Spirit of Christ will fuel all seven churches (Rev 1:20).
3 and two olive trees by it, one on the right side of the bowl, and the other on the left side of it.” 
Zech 4:3
two olive trees – in verse 14, we find that these are the anointed ones, vs 14, who stand beside “the Lord” – Adonai, of the whole earth, (Christ is the Lord of all the earth in the New Covenant). These olive trees are the two witnesses in Rev 11:4, who oppose the beast.
4 I answered and spoke to the angel who talked with me, saying, “What are these, my lord?” 5 Then the angel who talked with me answered me, “Don’t you know what these are?” I said, “No, my lord.”
Zech 4:5
what are these? – the answer is God’s reply to the desolation of Jerusalem, and the desolation of New Jerusalem. The anointed ones shall oppose the desolator; and Zerubbabel shall remove the desolation of Jerusalem, when he places the capstone on the Temple.

Zech 4:5
No my Lord – throughout these Chapters, Zechariah calls Christ, the Angel of Yihvah: “Lord” “Adonai,” as did Moses in Exodus 4, Gideon, etc.
6 Then he answered and spoke to me, saying, “This is the word of Yihvah to Zerubbabel, saying, ‘Not by might, nor by power, but by my Spirit,’ says Yihvah of Hosts. 
Zech 4:6
By My Spirit says the Yihvah of hosts – referring to the Spirit of Christ, who is called “His Spirit” in Zech 7:12. This is the only interpretation that can make sense to Zerubbabel, for the Spirit of Christ was the “Helper” of Israel. The Targum of Zechariah translates this as “Not by strength and not by might, but through my Word, says the Lord of Hosts.” It is the Spirit of Christ who strikes the statue in Dan 2:34, to become a great mountain. The Spirit of Christ walks among the seven golden lampstands in Rev 2:1.

to Zerubbabel – as in Chapter 3, this prophecy is a mixture of the current day, and the future restoration of Jerusalem (New Jerusalem). Zechariah is now speaking about Zerubbabel, the Governor of Judah (Hag 1:1).
7 Who are you, great mountain? before Zerubbabel [you are a plain; and he will bring out the capstone with shouts of ‘Grace, grace, to it!’” 
Zech 4:7
he shall bring forth the capstone – that completes the temple, and ends the desolation of Jerusalem, which Zerubbabel did four years later. The two anointed ones oppose the beast, but the capstone is placed by Zerubbabel.

with shouts of grace to it – to the temple, and by extension to Christ’s Church. The spirit of grace will be poured out on the temple when the capstone is placed.
8 Moreover the word of Yihvah came to me, saying, 9 “The hands of Zerubbabel have laid the foundation of this house. His hands shall also finish it; and you will know that Yihvah of Hosts has sent me to you.
Zech 4:9
His hands shall also finish it – as described above.

You will know that Yihvah of Hosts has sent Me to you – this phrase was also used in Zech 2:9, where Christ was the speaker. In verse 8, the speaker was directly identified as Christ “the Word of Yihvah came to me.”
10 Indeed, who despises the day of small things? For these seven shall rejoice, and shall see the plumb line in the hand of Zerubbabel. These are the eyes of Yihvah, which run back and forth through the whole earth.” 
Zech 4:10
these sevenare the eyes of Yihvah which scan to and fro – see Zech 1:10; and Rev 5:6. These are “the seven Spirits of God sent out into all the earth,” the eyes of the Spirit of Christ, the Archangel, Zech 3:9; these are the seven angels in the right hand of the Spirit of Christ (Rev 1:20).
11 Then I asked him, “What are these two olive trees on the right side of the lampstand and on the left side of it?” 12 I asked him the second time, “What are these two olive-branches, which are beside the two golden spouts, that pour the golden oil out of themselves?” 13 He answered me, “Don’t you know what these are?” I said, “No, my lord.” 14 Then he said, “These are the two anointed ones who stand by the Lord of the whole earth.”
Zech 4:12
what are these two olive trees? – answered in Rev 11:4 as the two witnesses. They are the “two anointed ones who stand beside the Lord of the whole earth” (Zech 4:14) and oppose the desolator.

Zech 4:14
that drip into the receptacles of the two gold pipes – the “anointing” they receive is the Spirit of Christ.