Hi every one focus on metal all metal bullish so every dip buy copper zinc aluminium nickel
Examining the daily chart of MCX Zinc utilizing Fibonacci retracement, notable developments are observed. In May 2023, Zinc breached the 61.8% retracement level but did not test the subsequent level at 78.6% . Instead, it retraced back to the 61.8% level. The pivotal level of 228 suggests that the downtrend in Zinc may have concluded. This level holds...
Hello Friends Here we had shared possible Elliott wave counts on Zinc Futures chart of mcx Elliott Wave Analysis for Zinc Future (Hourly Chart) Bullish Outlook: On the hourly chart of Zinc Future, the Elliott Wave analysis suggests that the asset has completed wave 1 and wave 2. The current price action indicates the unfolding of wave 3, with sub-waves (i),...
The commodity has broken out from the base pattern after what was a massive fall. Possible trend change.
Bearish Bat In Zinc Sell PRZ - 224/225 SL - 227.1 Target - 217/214.5
Zinc is now looking overbought on the oscillators, there is a minor resistance here and hence there is every chance that we get some sort of correction from the current levels.
Weekly structure is bullish Daily timeframe has tested it's demand zone with positive feedback 4HR has shifted to bulllish structure
Triangle seen on this chart buy zinc cmp 237.4 add more 236.30 sl 235.75 tg 240-243-247
zinc hold abv 244 support buy only soon 249-50 sl 244 yes dedcta bounce expect in chart or if hold abv 252 thna u will see massive short covring till 257+++++++++++
sell zinc stya bwl 255.50 sl 257.60 tgt 254.30-53 yes blw 258 looks dwn breakout only
zinc abv 262.70 buy sl 261 tgt 265--67 expect looks some dedcat bounce wia copper recovery
zinc support 258 stya blw or close blw 2 days big move ahead yes bear formation head and shoulder pattern begin after lvl fulfill condition sell on rise with tight sl 262 tgt 254--248++++ let see or if hold abv 258 than mkt may bounce back
zinc esy on 267 stya blw or close blw 263--256 expect yes after sell on rise with tight sl271.55-- matel may be pressure due to china growth rate or usd move upcoming powel speech
Inc H&S seen on Zinc too.... Like aluminium, it ready to move up positionally
Zinc moment depends on dollar index moment. Year end momentum is lagging
MCX zinc has been forming the corrective structure in descending channel for more than 28 weeks. The ending point of impulse was 383.55 . At present, MCX zinc has accomplished the corrective wave ((B)) and started forming sub-waves of the impulsive wave (C). Price has completed 78.6% retracement, where wave A = C at 217 . Zinc has accomplished wave (4) of...
Zinc Techanical Chart Shown Brake Down in The Channel this is the not good signal in the daily chart.