MCX Copper - Zinc Updates

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.


Post a Comment