Wednesday, February 23, 2011

MCX Zinc Updates and Positional Trading Advice

MCX Zinc February future prices traded lower on yesterday’s trading session by reversing the previous trend. It remained below 21 days linear regression which suggests more sellers.

MCX Zinc February contract opened at 111 per Kg against previous close of 111.20. It tested lower levels of 110.15 during the day. It last traded at 111. The contract faces resistance near 115 while its support is seen near 107.

Positional Traders can sell MCX Zinc February contract near 112.30 with stop loss of 114 and can wait for target of 108.50


Posted By Commodity MCX Tips