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  • MCX Zinc Monthly Chart: Technical Outlook 03 August-2015

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    ronak2484bhavsar
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    MCX zinc prices have fallen more than 20% in the last three months due to reduced supply concerns and slowing Chinese demand. The technical analysis shows that zinc is trading within a downward channel and may drop to around Rs. 117 in the coming months, as supported by the relative strength index. Physical traders are advised to buy zinc at price levels between Rs. 117-119 and hold until the price breaks out of the channel. Selling is recommended at Rs. 124 with a stop loss of Rs. 127, and buying at Rs. 117 with a stop loss below Rs. 114.

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    Technical Outlook 03 August-2015

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    Technical Outlook 03 August-2015

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    MCX zinc prices have fallen more than 20% in the last three months due to reduced supply concerns and slowing Chinese demand. The technical analysis shows that zinc is trading within a downward channel and may drop to around Rs. 117 in the coming months, as supported by the relative strength index. Physical traders are advised to buy zinc at price levels between Rs. 117-119 and hold until the price breaks out of the channel. Selling is recommended at Rs. 124 with a stop loss of Rs. 127, and buying at Rs. 117 with a stop loss below Rs. 114.

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    MCX Zinc Monthly Chart: Technical Outlook 03 August-2015

    Uploaded by

    ronak2484bhavsar
    MCX zinc prices have fallen more than 20% in the last three months due to reduced supply concerns and slowing Chinese demand. The technical analysis shows that zinc is trading within a downward channel and may drop to around Rs. 117 in the coming months, as supported by the relative strength index. Physical traders are advised to buy zinc at price levels between Rs. 117-119 and hold until the price breaks out of the channel. Selling is recommended at Rs. 124 with a stop loss of Rs. 127, and buying at Rs. 117 with a stop loss below Rs. 114.

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    VADILAL FOREX AND CONSULTANCY SERVICES LTD.

    vadilalmarkets.com
    TECHNICAL OUTLOOK 03 AUGUST-2015
    MCX ZINC MONTHLY CHART

    CHART/DATA SOURCE tickerplant

    AS showed in above graph, MCX Zinc has slipped more than 20% in last three months amid easing
    supply concerns and signs of slowing demand in China. From chart, we can see that zinc is trading in a
    channel and may fall upto Rs. 117 in coming months. Moreover, the RSI is also supporting to the
    downtrend. For physical traders should buy some material at 117-119 level and wait for channel
    breakout.
    Strategy: Sell @ 124.00 with stop loss of 127.00.
    Buy @ 117.00 with stop loss below 114.00
    SUPPORT

    RESISTANCE

    118.5

    124.00

    115.5

    126.50

    Disclaimer: This is for reference and private circulation only and is subject to the express understanding that it is on no account to be communicated to a third
    party. Though publication is ensured with market information, this should not be considered as contractual counsel and Vadilal will not be responsible for any
    action taken by the reader of this report.

    VADILAL HOUSE, NR.NAVARANGPURA RAILWAY C, NAVARANGPURA, AHMEDABAD-380 009


    PHONE NO.: 079-26400569 /079- 30153388 (TELE FAX): 079-26564019 TO 24
    E-MAIL: metal@vadilalmarkets.com

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