Rajandran R Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, USDINR and High Liquid Stock Derivatives. Trading the Markets Since 2006 onwards. Using Market Profile and Orderflow for more than a decade. Designed and published 100+ open source trading systems on various trading tools. Strongly believe that market understanding and robust trading frameworks are the key to the trading success. Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in and Co-Creator of Algomojo (Algorithmic Trading Platform for DIY Traders)

Is MCX Zinc on the Verge of Short Term Reversal?

33 sec read

MCX Zinc had done a tremendous run so far in 2016. Bottomed out on 12th Jan 2016 and till to date moved from 96.65 to 153.35. i.e almost 58.66% gain over a span of 8 months. It is also nearing the long term reference zone 154.35 (May 2015). Till to date MCX Zinc had made 8 month of consecutive higher high and higher low.

MCX Zinc

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It is almost a “V”-Shaped recovery from the May 2015 crash in Zinc Futures. Post the mid of July 2016, momentum in zinc had came down drastically. When the momentum declines buyers started getting frustrated with their long holdings. And when market conditions are not favoring those buyers naturally they turn to sell their contracts and there by triggering shorter term selling.

MCX Zinc – Rate of Change slowing down
ZINC ROC

The shorter term outlook is bearish and expected to trade in the range of 145-154 zone. Short only trend following is a preferred trading strategy to trade Zinc futures.

Rajandran R Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, USDINR and High Liquid Stock Derivatives. Trading the Markets Since 2006 onwards. Using Market Profile and Orderflow for more than a decade. Designed and published 100+ open source trading systems on various trading tools. Strongly believe that market understanding and robust trading frameworks are the key to the trading success. Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in and Co-Creator of Algomojo (Algorithmic Trading Platform for DIY Traders)

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