Zinc forecast 9 to 13 June 2014

Zinc forecast 9 to 13 June 2014

Zinc daily chart technical analysis

Zinc future on last trading session closed at 124.05 with gain. On daily chart, zinc future price trend and momentum both are bullish. Zinc has taken support of its 3-month average and trading above all short-term averages with bullish pattern on indicators. For next week, zinc has support at 123 and 121. 123 is its 1 and 3-month average level while on upside 125 and 128 rupees are strong resistances. Traders above 123 keep buy on dips view here and expect targets of 125 and 128 in next week.

Zinc weekly chart technical analysis

Zinc future this week closed with gains of 1.35%. This was third gaining week for zinc future and in these 3 weeks, we had seen 4-rupee recovery in prices. Zinc weekly price trend and momentum both are bullish and prices are trading above all major averages with strong bullish patterns. On downside 120 and 115 rupees are strong support zones and 125 and 131 are strong resistances on upside. Investors above 115 must use major corrections to buy and accumulate.

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