Zinc: Anticipated Happened and Forecast

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MCX Zinc Daily chart


In my previous update of Zinc I had mentioned that ," A relief rally is expected in MCX Zinc which can take prices higher till 185-187 levels in near term." Read the full article here

 https://www.marketanalysiswithmeghmody.com/2019/08/mcx-zinc-corrective-pattern-to-unfold.html

As per Wave forecast, prices have completed wave iv of wave iii in extension and will start wave v down till 178 levels. Once wave iii is completed wave iv at higher degree will start pushing prices higher till 186-188 levels and then wave v down near till 175-172 levels which will complete wave c.

 The summation is prices will move down with resistance at 189 and the support will be at 175-172 levels. A whipsaw action is likely.

Comments

Phani Kumar said…
Hey, thanks for the information. your posts are informative and useful. I am regularly following your posts.
Arvind Virmani
22 July 2020 at 14:34
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