Shubhlaxmicommodity.com Website Review

(Disclaimer: The above chart shown is for study purpose only and not for trading decision) The yellow metal found support at the lower end of the rising channel and bounced back. In the near term, the yellow metal can rise higher towards 1263, i.e. 50% retracement level of the entire fall and upper end of the channel. Once it closes above 1263, it can inch higher towards the 61.8% retracement level of its entire fall, which is pegged at 1287. On the way down, 1233 – 1224 will act as crucial support zone. The trend shall remain bullish as long as it does not close below 1224. The daily momentum indicator is bullish. If you liked this article, then please share to the social networking site. You can also find us on Twitter Adjacent chart shows price movement of MCX Zinc continuous contract. In the short term, zinc was trading in a downward sloping channel. However, in Tuesday’s trading session, it closed above the upper end of the channel thereby reversing its downtrend. On the way up, zinc can rise higher towards 194 – 198 in the forthcoming trading sessions. On the way down, 181 – 174 will act as support. The trend shall remain bullish as long as it does not close below the swing low of 174.50. The daily momentum indicator is bullish. If you liked this article, then please share to the social networking site. You can also find us on Twitter resistance line thereby reversing the short-term downtrend. In the near term, lead has resistance around 148 – 149.20 on the way up. If it closes above 149.20 then the rise can extend higher towards 151.35. However, if it fails to break above 149.20 then some consolidation is possible. On the way down, 143 – 141 will act as support in the near term. The short-term outlook remains bullish as If you liked this article, then please share to the social networking site. You can also find us on Twitter Zinc Bears back in action Zinc is forming a lower top lower bottom pattern and is trading below the daily moving averages indicating