MCX Zinc Ready For Another Rally Attempt
Actualizado
Zinc is going upward since April. Recently, it has broken the strong support trendline and made an excess. At present, it's running at a strong support line. So what are you expecting next?
Technically, the crossover of 20 & 50 MA indicating a downtrend ahead, and multiple volume spikes are a direct sign for an uptrend.
Simple Trading Strategy for the Intraday Traders:
The day traders can keep buying above 0.886 value of retracement for the target of 194.6 - 196 and above.
Breakout of 199.4 means boom..!!! It can fly from there for 203 - 206 levels.
According to the Fibonacci retracement & moving average, zinc will collapse soon to the value of 0.786. So, short-term investors can go for 185 levels.
Technically, the crossover of 20 & 50 MA indicating a downtrend ahead, and multiple volume spikes are a direct sign for an uptrend.
Simple Trading Strategy for the Intraday Traders:
The day traders can keep buying above 0.886 value of retracement for the target of 194.6 - 196 and above.
Breakout of 199.4 means boom..!!! It can fly from there for 203 - 206 levels.
According to the Fibonacci retracement & moving average, zinc will collapse soon to the value of 0.786. So, short-term investors can go for 185 levels.
Operación cerrada: objetivo alcanzado
Zinc has reached the first target (203) and made a high of 204.1 yesterday.
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