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MCX Zinc & Aluminum: Technical Insights

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free commodity market mcx zinc daily chart and tips

MCX Zinc Analysis

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 significance as it could propel Zinc upwards, targeting levels of 236, 242, and potentially 257.6.

According to the principles of Fibonacci retracement, a weak trend reversal signal is indicative of a weak trend. Therefore, if Zinc breaches the red trendline, a potential downside with target prices of 212, 206, and 200 could be anticipated. Caution is advised between the 61.8% retracement level and the trendline.

MCX Aluminum Outlook

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MCX GOLD & SILVER – Trading Insights & Update

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MCX Gold Technical Analysis: A U-Turn in the Control Channel Signals Potential Targets

Have you traded MCX GOLD price action analysis?
Click here: MCX Gold Technical Analysis: A U-Turn in the Control Channel Signals Potential Targets

We had mentioned clearly, It is reasonable to anticipate potential price levels at 58660, 58360, and 58000 before the commodity resumes its upward trend.

Timeline:

[12 September 2023]

  • 04:45 PM – Price touched the first target of 58660.

[14 September 2023]

  • 06:00 PM – MCX GOld Touched the second target of 58360

If you have traded this setup, you could have made more than ₹63,300 / lot.

We will update further information for premium subscribers soon.Continue reading

MCX Gold & Silver Technical Analyses: Recent Trends & Upcoming Targets

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Free commodity gold daily chart and tips

MCX Gold Technical Analysis: A U-Turn in the Control Channel Signals Potential Targets

According to the above technical daily chart, MCX Gold futures in the Indian commodity market have recently reversed direction within the control channel. It is reasonable to anticipate potential price levels at 58660, 58360, and 58000 before the commodity resumes its upward trend. Stay tuned for additional updates and insights on the gold market.

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MCX Zinc: Bullish Momentum Ahead

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free commodity mcx zinc trading chart & tips

MCX Zinc Signals Potential Bullish Momentum with Clear Target Levels

MCX Zinc is currently right at its 100-day Simple Moving Average (SMA). Additionally, we’ve seen a positive crossover on the Moving Average Convergence Divergence (MACD) indicator.

Closing above the SMA 100 is significant, indicating a potential upward move with two target levels at 224 and 228 in the coming days. This is an appealing opportunity for short-term traders.

It’s important to note that initiating a position when the price is below the SMA 100 is not recommended due to higher risk.

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