MTECHTIPS MCX ZINC INTRADAY trading analysis 09-06-2016
DAILY :- Mcx zinc future closed at 137.75 with strong buying as well as short covering. Here super bullish zinc is heading towards my targets 140 and 143.
WEEKLY :-Mcx zinc future this week closed with gain. This week we saw fresh breakout in zinc prices and this base metal outperformed other metals. Mcx zinc future weekly chart price trend and momentum both are bullish. Mcx zinc weekly support zones are 132 and 130. These are fresh entry levels on correction.For next week, mcx zinc resistances are 135 and 140. These are target zones for next week. For month of June, mcx zinc achieved my targets of 132.2 and 135.2. Next major move will happen above 135.2 only till then expect correction and consolidation for month.