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ZINC: tumbling down

Zinc has been trading in a sideways manner since the past 2 years. It has a strong resistance around 112-113, where it has formed a triple-top-like formation. Unless that is crossed, zinc is expected to tumble down from a short- to medium-term perspective. On the downside,the crucial support is placed at the long-term rising trend line around 95-96. On the flip side, if the bulls manage to cross the strong resistance then 124 is the next crucial level to watch out for.

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Shubhlaxmi Harish

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