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Mtechtips ZINC MCX intraday trading analysis 08-10-2012
Mcx zinc 31 oct 2012 expiry future on last trading session closed at 107.4 with almost 0.5% gains.on daily chart mcx zinc future manage to closed above 3 month average of 107 on weekly closing which is good sign. on upside 108 is weekly level and 109 is monthly level and both these are major short term resistance�s for zinc prices while 3 month average of 107 will be major short term support. on indicators side,mcx zinc daily cci is at �201 and oversold while zinc daily rsi is at 48 and sowing reversal signs. on daily chart analysis, stoploss must be strict below 107 on closing basis. sort term uptrend of zinc prices still intact but momentum is bearish.
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