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Yesterday metal sector was going down. Look at Top Losers chart, if you will excerpt Agri commodities then metal sector commodities can be in top 5 losers list. If you’re planning to sell today any metal then wait… Today it’s recovery time! But if we look at Zinc, I don’t think we should wait for more. Look at my MCX Zinc report by click here.
You can see in the chart, Zinc support is 171.4 level. Yesterday it had closed at 168.40 (-2.06%). Do you think Zinc will touch 163.2 level before this weekend?
Crude oil is going to show the negative price in opening bell. It’s a big trap! You must keep your eyes on $52.90 level. If crude oil breaks this level then we can see $52.60 today.
If it will remain above to $52.90 then nobody can stop the crude oil to touch $53.20 – $53.40 level.
This is the time, you should remind what I had said about MCX Zinc. First, click here and read my previous Zinc report.
You can read I strongly said, “If zinc will remain below 177.25 level then keep selling for 173.3 – 171.4 levels.”
ZINC TOUCHED BOTH TARGET..!!!
So many traders commented on Zinc report. They earned approx. 5.85 point from this call. That means, per lot they earned Rs.29250..!!!
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Look at above chart, MCX Zinc is going upside over 1 year. In last two trading session, it had broken 1-year Support trend line. Since the December 2016 year Zinc price locked in a trading range bounded by upside resistance (197.5 level) and downside support (171.4 level).
This week COMDEX index increased just +29.79 (0.92%). Gold and silver are walking opposite direction. Crude oil becomes top gainer and gained 4.52%. All metals are going down! What happening?
Let’s we go in deep!
Look Broad-Based ETPS Heatmap →
That’s clear proof why COMEX Gold & Silver futures are increasing. This heatmap is also answering why our energy sector commodities are top gainer for this week. But what happened last week with MCX Gold & Silver, you must check below chart:
You can figure out how bullion commodities are moving but below chart will take you in deep:
Above chart is indicating if gold will close and go down to 28450 level then it can drag down up to 28300 – 28100 levels. And if it will close below to 27980 level then you can guess what will happen!
But if gold will remain above to 28450 level then we can see 28800 – 29000 in upcoming days.
If you want to sell anything from NSE Currencies then I strongly recommend EURINR pair. Use my below levels as targets:
How to use above level?
If it will close below to 69.59 level then sell it for 69.14. Next, if it will break and close below to 69.14 then sell it for 68.65… continue..!!!
And if it will remain above to 69.59 levels then watch it only. Buying pressure may push upside up to 70.5 – 70.7 levels.
This is sufficient information for Smart intraday traders!