Zinc

Technical outlook

Zinc daily chart has formed “Ascending broadening wedge” pattern. The last few sessions ended up consolidated but bullish in trend retesting near the channel’s support slope line. The market is expected to continue on bullish momentum, testing all the way through 170-172 levels in the upcoming sessions. Alternatively, if the market breaks below a key support holding at 166 and give a close on daily basis, then it might turn bearish once again. The downside rally could test up to 160 levels. Key resistance holds at 172.

Research Report call:

Technical outlook

Zinc daily chart has formed “Ascending broadening wedge” pattern. The last session ended up bullish in trend retesting the channel’s support slope line. The market is expected to continue on bullish momentum, testing all the way through 170-172 levels in the upcoming sessions. Alternatively, if the market breaks below a key support holding at 165 and give a close on daily basis, then it might turn bearish once again. The downside rally could test up to 160 levels. Key resistance holds at 172.

Research Report call:

Technical outlook

Zinc daily chart has formed “Descending broadening wedge” pattern. The last few sessions ended up bearish in trend breaking lower lows as per the technical aspects of the pattern. The market is expected to continue on bearish momentum, testing all the way through 164-162 levels in the upcoming sessions. Alternatively, if the market breaks above the key resistance holding at 170 and give a close on daily basis, then it might turn bullish once again. The upside rally could test up to 175 levels. Key support holds at 162.

Research Report call:

Technical outlook

Zinc daily chart has formed “Descending broadening wedge” pattern. The last few sessions ended up bearish in trend after retesting near a key resistance zone inside the channel. The market is expected to continue on bearish momentum, once the same breaks below a key support zone holding near 170. The downside rally could be testing all the way through 168-166 levels in the upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish. The upside rally could test up to 182 levels. Key resistance holds at 182.

Research Report call:

Technical outlook

Zinc daily chart has formed “Descending broadening wedge” pattern. The last few sessions ended up bearish in trend after retesting near a key resistance zone inside the channel. The market is expected to continue on bearish momentum, once the same breaks below a key support zone holding near 172.50. The downside rally could be testing all the way through 171-170 levels in the upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish. The upside rally could test around 175-178 levels. Key resistance holds at 182.50.

Research Report call:

Technical outlook

Zinc daily chart has formed “Descending broadening wedge” pattern. The last few sessions ended up bearish in trend after retesting near a key resistance zone inside the channel. The market is expected to continue on bearish momentum, once the same breaks below a key support zone holding near 175. The downside rally could be testing all the way through 173-170 levels in the upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish. The upside rally could test around 178-182 levels. Key resistance holds at 182.

Research Report call:

Technical outlook

Zinc daily chart has formed “Descending broadening wedge” pattern. The last session ended up bearish in trend after retesting near a key resistance zone inside the channel. The market is expected to continue on bearish momentum, testing all the way through 177-174 levels in the upcoming sessions. Alternatively, if the market breaks above the key resistance holding at 183, then it might turn bullish. The upside rally could test around 185-187 levels. Key support holds at 174.

Research Report call:

Technical outlook

Zinc daily chart has formed “Descending broadening wedge” pattern. The last session has taken the formation of a “Doji” candlestick pattern, which could be read as a trend reversal one. The market is expected to continue on bullish momentum, once the same breaks above a key resistance holding at 182.50. The upside rally could be testing all the way through 184-186 levels in the upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the same and turn bearish. The downside rally could test around 178-175 levels. Key support holds at 175.

Research Report call:

Technical outlook

Zinc daily chart has formed “Descending broadening wedge” pattern. The last few sessions been in sideways trend after retesting the channel’s support slope line. The market is expected to continue on bullish momentum, once the same breaks above a key resistance holding at 182. The upside rally could be testing all the way through 184-186 levels in the upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the same and turn bearish. The downside rally could test around 178-175 levels. Key support holds at 175.

Research Report call:

Technical outlook

Zinc daily chart has formed “Descending broadening wedge” pattern. The last session ended up bearish in trend after few positive rallies inside the channel. The market is expected to continue on bearish momentum for a while, testing all the way through 176-175 levels in the upcoming sessions. Alternatively, the market might also have a chance on giving a small correction over positive momentum. The correction rally could test around 180-182 levels. Key resistance holds at 182 and support at 175.

Research Report call: