Zinc: Decisive Zones To Finalize Directional Moves
Satendra Singh | Sep 06, 2017 10:08AM ET
On analysis of the movement of zinc futures price in different time zones since submission of my last analysis, I find Zinc is not able to cross strong resistance at $3219 and seems to prefer to trade inside a "Medium Volatile Decisive Zone."
Having a look at zinc's futures price movement in the weekly, daily and 4 Hr. charts provides more conclusive trading ideas when seen through the daily chart (September 6th , 2017, 09:30:00.), I conclude the current level may attract more Bears due to presence of skepteticism about how vigorously Beijing will pursue its policy of closing 'Polluting industries" in the northern province ahead. Secondly, the concern on quantum of speculative money which entered the whole base metal sector during the past few months.
Have a nice trading time. Good Luck.
Disclosure: This content is for information and educational purposes only and should not be considered investment advice or an investment recommendation. Past performance is not an indication of future results. All trading carries risk. Only risk capital you are prepared to lose.
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