Monday, 18 April 2016

Base Metals Prices & Analysis by Marketmagnify

Last week Zinc April contract price on MCX remained volatile and rose 6.10% to settle at 124.30. The prices have retraced till the 50% retracement of the overall fall from (154.35 - 96.65). A long bullish candle on weekly chart is showing good amount of strength in the counter.

In the coming session if it manages to surpass and holds above 125.50 then further rise can be seen till 132.10 i.e. 61.8% retracement of the same range.

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