Mantraa Commodity Mantra commodity is an analyst group involved in technical analysis of all major commodities gold, silver, crude, copper, natural gas etc. Mantra commodity serving to clients from last 7 years & made a strong bond of trust with our dedication towards work.Our main functioning area is .Technical analysis on all major commodities available HERE. Or you can write us on mantracommodity@yahoo.com HaPpY TrAdInG.

Zinc – Major Reversal Chart Pattern in Forming.

28 sec read

Zinc (18.07.2014) given major upside movement in last few weeks & probably its time for reversal.

Now zinc is trading around 2290 on LME & as we can see on weekly chart, there is a strong probability of an ABCD reversal pattern. If we look at daily chart , we find some reversal candlestick pattern also as well as indicators trading in over bought zone. We also witness a 261.8% feb correction just above the ABCD pattern finishing line. We probably use it as stoploss.

 
On fundamental side , mix global cues & fair level of inventory showing no rush move ahead.
zincweekly

Based on above studies, we will prefer to sell zinc for possible targets around 2128 & then may be 2010 in coming weeks. A day close above 2380 will force us to reanalyze the charts.

Mantraa Commodity Mantra commodity is an analyst group involved in technical analysis of all major commodities gold, silver, crude, copper, natural gas etc. Mantra commodity serving to clients from last 7 years & made a strong bond of trust with our dedication towards work.Our main functioning area is .Technical analysis on all major commodities available HERE. Or you can write us on mantracommodity@yahoo.com HaPpY TrAdInG.

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2 Replies to “Zinc – Major Reversal Chart Pattern in Forming.”

  1. ZINC REVERSAL CALL: WHERE TO FIND THE ZINC PRICE IN $ AND ALSO CHARTS FOR THE SAME SO I CAN FOLLOW YOUR CALLS.

    REGARDS,
    AMBRISH

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