mcx zinc future monthly technical analysis report april 2016

mcx zinc future monthly technical analysis report april 2016 Mcx zinc future last closed at 123.25. After last month correction, zinc future resumed buying spree and heading towards 130 levels.     Mcx zinc daily chart, price trend and pattern are strong bullish. After lasts session strong gains shows momentum is clearly in bull’s hand. On downside 118 and 116 are support zones. On upside 125 and 131 are resistance levels. Mcx zinc weekly chart, price trend and momentum are bullish. After consolidation, fresh breakout is visible. On upside 131 and 134 are resistances while 119 and 115 are support zones. On monthly chart, 129-130 is target of his move and above it on monthly closing expect long term bullish cycle for this commodity.     For April 2016, my mcx zinc technical call is above 120 keep buy and accumulate view for targets 123 and then 127.55. Weekly closing below 120 means trend reversal and targets of 115 to 112.

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