Hi friends, in this video we are going see
Zinc future technical analysis for the month
of January and also long term investment forecast
for year 2019.
Zinc future daily chart technical analysis
Zinc future on Friday closed at 173.8 with
huge loss.
Zinc future is in downtrend and we saw sharp
selloff in last trading session on another
strong price breakdown.
Zinc trading below all short term averages
with bearish and oversold indicators.
For month of January, mcx zinc has major resistance
around 181 rupee and below it expect downtrend
to continue and my bearish target zones for
this series are at 170 and then 162 rupee.
Zinc prices are almost near first bearish
swing target of 170 rupees.
Zinc future weekly chart technical analysis
Mcx Zinc future this week closed at with loss.
This was third losing week for zinc prices
and in these 3 weeks prices slumped from top
of 192 to almost low of 173 rupees means almost
10% drop in last 3 weeks.
From 2019 with long term view, for zinc futures
below 191 will remain weak and sell for my
long term bearish targets of 150 rupees and
below it next long term support as well as
bearish target zone will be 122 rupees.
Zinc future monthly chart technical analysis
Mcx Zinc future in month of December closed
with loss.
This was third monthly loss for zinc prices
and in these 3 months we saw zinc future tumbled
from high of 204 to lows of 173 rupees.
Here prices are retracing back towards recent
low of 165 rupees and also below 191 rupee
trend will remain weak and sell.
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