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Will Zinc Return at a Strong Support Trendline?

Posted: 07 Dec 2020 04:41 PM PST

Zinc took a bounce back from the lower levels yesterday, and it has failed to break last week’s low level of 212.1. Intraday traders can initiate long positions for levels of 219.6 – 220.

If it breaks last week’s low, we may see 210 – 208.6 levels. Overall, it’s positive. Long positions can be initiate with targets at 221.6 – 224 – 230 in extension.

The DMI & MA is bullish and calls for further advance.

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Nickel’s Strong Buy Signal for Short-Term

Posted: 06 Dec 2020 10:52 PM PST

According to this chart, nickel is further advance. Once it breaks the hurdle, it will start marching for 1260 – 1280 – 1300 levels.

Hurdle: 1236

Whenever it hits the hurdle level, what will happen? Here, it will act as resistance. We may see reversal up to the support line (1212 – 1180).

Short-term investors can continue position for the above targets. Further information I will update during the market hours for the premium subscribers only.

This is part II. You can also refer to the previous report of nickel by clicking here.

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