Zinc futures price seems to be passing through a "Decisive Zone" before stepping in the final directional moving zone very soon.
Once a commodity's price crosses all the recent heights, Bears come under pressure before the Bulls start their fresh entry. Secondly, if the Bulls get fundamental support at such stage, this may bring the price to test new height. And, finally any such juncture proves quite indecisive at that time. I find the situation may be reversed when every one become in favour of Bulls on sudden eruption of any news flow in favour of Bears. As may be in near future, as the announcement of strong U.S. retail data on August 15th, 2017 put a Federal Reserve rate hike back on the agenda.
Have a Nice Trading Time.
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.
