Recommendation: buy
zinc between 101.50-102.50 with stop loss below 101 on closing basis for target of 106.50-108.50-111 for short term. Kindly not that here we are suggesting closing basis stop loss of 101 trader can use our yesterdays stop loss also which was 102.40 but we need minimum 2 consecutive close below this level to negate our recovery expectations
Metal has corrected up to 90% after hitting year highs towards 115 recently. Technically Metal has reached in oversold territory and this short term bearish trend may shift towards bulls any time after a small consolidation. Now 102 levels are important to watch if metal manage to hold below that then it will try to taste contract low around 101.25 zones and stability and closing below the same may extend this fall towards 98-96 zones other wise we are expecting a recovery in this metal after testing lows around 102-101.50 zones that may take place any time.
zinc between 101.50-102.50 with stop loss below 101 on closing basis for target of 106.50-108.50-111 for short term. Kindly not that here we are suggesting closing basis stop loss of 101 trader can use our yesterdays stop loss also which was 102.40 but we need minimum 2 consecutive close below this level to negate our recovery expectations
Metal has corrected up to 90% after hitting year highs towards 115 recently. Technically Metal has reached in oversold territory and this short term bearish trend may shift towards bulls any time after a small consolidation. Now 102 levels are important to watch if metal manage to hold below that then it will try to taste contract low around 101.25 zones and stability and closing below the same may extend this fall towards 98-96 zones other wise we are expecting a recovery in this metal after testing lows around 102-101.50 zones that may take place any time.
No comments:
Post a Comment