MCX Zinc Range bound movement 04 April 2018

MCX chart shows price movement of MCX Zinc continuous contract. Zinc has seen a minor degree pullback from the low of 207.40. The bollinger band has contracted indicating a sideways movement in the near term. From the near term perspective, 216 will be a crucial resistance on the way up, whereas on the way down, 207.40 will be a crucial support. Sideways movement within the range of 207.40 – 216 is possible in the forthcoming trading session. The momentum indicator is bullish.

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