ZINC is respecting its important support level of 205-207 beautifully, but 220 is an immediate and critical resistance zone- Swastika Investmart
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NEWS IN HEADLINE
* Oil rally pauses as Fed minutes loom, China-U.S. tensions rise
* Oil prices ease as worries over global economic slowdown weigh
* Gold drifts higher before Fed minutes, copper muted on China woes
CHART OF THE DAY
ZINC: ZINC is respecting its important support level of 205-207 beautifully, but 220 is an immediate and critical resistance zone. Above this, we can expect a short-covering rally towards the 225-228 zone. On the downside, 212 is an immediate support zone, while 210 is the next support zone.
OUTLOOK:
* Bullion: Day trend is indicating sideways to upside in Gold &Silver.
* Energy: Day trend is indicating sideways to upside in Crude oil & Natural gas
* Base metals: Day trend is indicating sideways to downside in all base metals.
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