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Zinc LME- Testing crucial resistance of 3230-3250 mark

26 Oct 2017

As seen on the chart Zinc future prices tested crucial resistance levels of 3230-3260 levels today and it’s expected to hold at this level to confirm some more consolidation can be seen between 3030-3260 levels else a break of 3260 will be needed to confirm the trend is still up. Any retreat from 3230-3260 mark and a confirmed break below 3155 on the downside will reopen door for 3030 mark as seen on the chart to form a HEAD and SHOULDER formation. It’s good to sell at these levels with a tight stop loss at 3275 and a target of 3170.

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