mcx zinc price forecast for 6 to 10 may 2013

mcx zinc price daily chart forecast

mcx zinc future on last trading session closed at 100.75.on daily chart mcx zinc future closed just above month average of 100.5 and which is fist downside support for now.below that 100 is week average and last support on daily chart while on upside 104 is 3 month average and last resistance on chart.mcx zinc future daily cci level is +16 and off the lows while daily rsi level still below 50 with sell signal.

mcx zinc price weekly chart forecast

mcx zinc future price this week closed flat negative.this week mcx zinc future made high at 101.5 while low was 4 rupee volatility and recovery from bottom?

on weekly chart,mcx zinc future trend and momentum absolute down.on upside 104.5 is 2 years average level and major long term resistance.above that 106 is 12 and 6 month average levels and second major resistance on weekly chart.on indicators mcx zinc weekly cci level is –133 and still oversold and bearish while rsi is trending towards 30.

mcx zinc price forecast for 6 to 10 may 2013

for next week,below 104 hold sell on rise view and expect 98 to 96 as downside target zones.some technical bounce back is expect but must used for selling.

from medium to long term view,mcx zinc future still bearish on chart and with weekly closing basis stoploss above 106 one can expect 95 to 90 levels in medium to long term also sell on rise view remain trading strategy for zinc.

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Pramod Baviskar

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