Zinc future monthly outlook June 2017
This was forth losing month for zinc prices and in these 4 months prices
tumbled from top of 199 to low of 159. This month zinc future recorded low at 159
while high was around 173. Total 14 rupee or 8% range and flat closing suggesting
bearish below 166.6 level only. Daily chart price pattern and indicators are mixed
but suggesting downside for this commodity in June series.
then 153. As currently still trading above 166.6 support so trend is bullish
and on upside 173 and 179 are resistance zones for June series as well as
target zones of uptrend continues.
stop loss above major top of 172 rupees and keep targets at 160 and then 153
for month of June 2017.
support of 159 rupee. Below 159 on weekly closing basis enter into long term
downtrend and will head for bearish long term target of 112.