MCX Zinc opened positive today and its July futures trading near the resistance level of 103.80 breaching
which can elevate zinc July futures up to 104.1-104.30 level for the
day. First Support for this base metal is seen near 103.20. Below the
same prices may decline to 102.80 level. The charts are suggesting
that zinc is in buying mode so one can initiate long position for the target of 104.00-104.30 level.
The other base metal commodity, copper
is also trading up nearly 0.35%. It has crucial intraday support st
425.70 while 421.50 is acting as downside support level. A breach in
either side would decide the trend for the day. Overall trend is positive so buying is recommended.
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