base metals tips

Stay ahead in the base metals market with our expert tips and analysis. Our research reports cover all aspects of base metals trading, including aluminum, copper, lead, nickel, and zinc, to help you make informed decisions and maximize your profits.

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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EWT – MCX Zinc Is Ready For Its Final Impulse

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Free nse zinc chart calls

MCX zinc has been forming the corrective structure in the 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 wave ((C)). Wave ((C)) retraced 61.8% of wave ((A)). Zinc is trading below 50-day EMA, and RSI is above 30.

Zinc will try to test the price hurdle of 267, so traders can sell zinc nearby 267 for the following targets: 252.6 – 246 – 244.

Target measurement using the Fibonacci relationship:

  • Wave (5) of wave ((C)) can end near 161.8% reverse Fibonacci retracement.
  • Wave ((C)) can occur near 100% extension at 217, where wave A = C.
  • Wave ((C)) can cease to exit at the lower band of the parallel channel.

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MCX Gold & Nickel – Profit Booking Time

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Free mcx gold chart tips

Did you read the gold report? If not, click the below link.
22 Feb 2022: MCX Gold’s Bullish Mode Activated

While the gold price at 50532, I had written, “we will see the gold price above 51160 – 51740“.

Today, it has touched the first & second target. Who bought it? Profit per lot: Rs.1,20,800

Free mcx nickel chart calls

I have updated a full report of Nickel on Feb 6, 2022. Did you read it? If not, click the below link:
2020’s Uptrend Channel Is Everything For MCX Nickel

I had written, “It’s a sign for a buy signal. But intraday or short-term investors should confirm that breakout before proceeding. And they must look out for candle’s fakeout. Afterward, be ready for the targets of 1800 – 1840 – 1876+“.

Today nickel has touched all targets. Who bought it? The target was 133.4 points. Profit per lot: Rs.2,00,100

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