mcx zinc monthly pivot point levels for june 2016
|support and resistance||Monthly technical levels|
|Month pivot point level||127|
How to use Pivot points for practical trading ?If security trading above its pivot level then expect uptrend for period and expect resistance zones as upside target and reversal points on chart for that period. In this scenario stop loss must be below pivot level. If security trading below its pivot level then it is in downtrend for that period and expect support zones as targets as well as reversal points for that period . Here stop loss for short positions will remain above pivot point level. Entry should be near support or resistance for better risk and reward ratio. exit strategy will be at will or at target.
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