Zechariah 4:4 So I answered and spoke to the angel that talked with me, saying, what are these, my L-rd?
Zechariah asks for an explanation of the vision.
Zechariah 4:5 Then the angel that talked with me answered and said unto me, Don’t you know what these are? And I said, No, my L-rd.
The angel implies that Zechariah should understand the vision and its symbolism.
Zechariah 4:6 Then he answered and spoke to me, saying, This is the word of the L-RD to Zerubbabel, saying, Not by might, nor by power, but by my Ruach (spirit), said the L-RD of hosts.
This message is given to strengthen the faith of Zerubbabel. Zerubbabel was given the task of rebuilding the Temple and had faced opposition.
Might and Power - Might - refers to mans inward ability. Power - refers to outside influence. Ruach HaKodesh needs neither one.
G-d is telling Zerubbabel that the Temple would be rebuilt by G-d not man.
Zechariah 4:7 What are you, O mighty mountain? Before Zerubbabel you will become level ground. Then he will bring out the capstone to shouts of “Grace, grace to it”!
“Mighty mountain” represents the opposition. G-d will rebuild His Temple regardless of what seems to be an impossible situation. Today in Israel it appears to be the same. Opposition to rebuilding the Temple appears to be a “mighty mountain”. However, the L-rd says:
“Not by might, nor by power, but by my Ruach (spirit), said the L-RD of hosts.”
The “mighty mountain” of opposition will become level ground by the power of the “Ruach HaKodesh”
The “capstone” is the finishing stone. It represents the Messiah.
The fact that the term “grace” was repeated twice also seems to correspond to the additional two lamps and introduces the Dispensation of Grace with its new covenant, the B’rit Hadashah. The door to this covenant only opens through G-d’s Grace.
Eph 2:7-10 that in the ages to come he might show the exceeding riches of his grace in kindness toward us in Christ Jesus (YeshuaHaMashiach): for by GRACE have you been saved through faith; and that not of yourselves, (it is) the gift of G-d; not of works, that no man should glory. For we are his workmanship, created in (YeshuaHaMashiach) Christ Jesus for good works, which G-d afore prepared that we should walk in them.
The future Messianic kingdom is certain to occur.
Zechariah 4:8-9 Moreover the word of the L-RD came to me, saying, The hands of Zerubbabel have laid the foundation of this house; his hands shall also finish it; and you will know that the L-RD of hosts has sent me to you.
G-d is telling Zechariah that he will be allowed to finish the work that he started on the temple.
Zechariah 4:10 For who has despised the day of small things? For these seven rejoice to see the plumb line in the hand of Zerubbabel. They are the eyes of the L-RD, Which scan to and fro throughout the whole earth."
Some may have been disappointed in the new temple because it was smaller than Solomon’s Temple.
Ezra 3:12 But many of the priests and Levites and chief of the fathers, who were ancient men, that had seen the first house, when the foundation of this house was laid before their eyes, wept with a loud voice; and many shouted aloud for joy:
Haggai 2:3 Who is left among you that saw this house in her first glory? and how do ye see it now? is it not in your eyes in comparison of it as nothing?
The 7 eyes are symbolic of G-d’s omniscience. G-d delighted in the rebuilding in the Temple.
Zechariah 4:11 Then answered I, and said to him, What are these two olive trees upon the right side of the candlestick and upon the left side thereof?
Zechariah is speaking here.
Zechariah 4:12 And I further answered and said to him, "What are these two olive branches that drip into the receptacles of the two gold pipes from which the golden oil drains?"
The oil seems to flow from the olive trees directly to the bowl.
Zechariah 4:13 And he answered me and said, Don’t you know what these are? And I said, No, my lord.
“my lord” is directed to the angel speaking to Zechariah as a sign a respect like “sir”. It is not directed at the L-rd.
Again the angel assumes that Zechariah should understand these things.
Zechariah 4:14 Then said he, These are the two anointed ones, that stand by the L-RD of the whole earth.
The two olive trees represent the kingly and priestly offices in Israel. Zerubbabel and Joshua foreshadow the Messiah in whom these two offices are combined. We will see this spelled out in Zech 6:12-13.
“the L-RD of the whole earth” is applied to the future millennial kingdom where our L-rd and Messiah will reign over the whole earth.