Mcx zinc weekly-hit high 172.65 achieved target 171

Mcx zinc future weekly technical analysis report for 29 may
to 2 June 2017

Mcx zinc future this week closed at 170.15 with gains. After
last week’s strong gains on short covering as well as on value buying we saw
follow up buying this week.
Mcx zinc future hit high at 172.65 this week and achieved given
bullish swing target of 171 rupees. Though closed below 171 resistance which is
bearish sign. For next week, mcx zinc future has strong resistances at 171 and
172.5 while on downside 168.5 and 164 are support zones as well as target
levels if failed to cross 171 on daily closing basis.

From long term view, mcx zinc future is correcting towards
major support of 158 rupee and look like taken support just above it and moving
upside towards investment target of 219 rupees.

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