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Published on 14/06/2021 5:04:31 PM | Source: Choice Broking

Buy MCX Zinc (July) @ 242 SL 236 TGT 252 - Choice Broking

Posted in Commodities Reports| #Commodity Tips #Choice Broking

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Zinc

* On the daily chart, MCX Zinc has been rising continuously from the last many days with Higher Highs & Higher Lows formation that indicates a continued uptrend in the counter.

* Moreover, the price has also been moving above the 50*100 days SMA & Ichimoku Cloud formation, which indicates a bullish trend inthe counter for the longterm.

* Furthermore, a momentum indicator RSI (14) sustained above 60 level & Stochastic showed positive crossover onthe daily time frame.

* On a weekly chart, the Zinc has confirmed Bullish Engulfing candlestick pattern, which points outa bullish presence for the longterm.

* In addition, on four hourly charts, it has formed Bullish Marubozu candlestick pattern, which suggests bullish strength for the upcoming sessions.

* Based on the above technical structure, we expect a bullish movement in ZINC (July) towards the level of 252 inthe near term.

Buy MCX Zinc (July) @ 242 SL 236 TGT 252

 

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