Zinc: Downward Trend Repetition Begins
Satendra Singh | Jun 23, 2017 01:47AM ET
Zinc futures price seems to enter a downward trend zone on June 22nd, 2017 once again as it did on May 24th , 2017. Zinc futures price faced a stiff resistance at $2705 as I predicted on June 22nd, 2017 in my analysis.
On analysis of the movement of zinc futures price during the last two trading sessions in different time zones, I conclude that the zinc price has already entered inside a Downward Trend Zone as it did on May 24th, 2017. A move below $2647 will confirm the continuity of this downward trend till $2471 up to July 4th , 2017.
Movement of zinc futures price may be too volatile ahead but will definitely be remain inside the Downward Trend Zone.
Have a nice trading week.
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