Tuesday, September 23, 2008
UPDATES ON SEPT 23 2008
SEPT 23 TUESDAY
SHRT TERM TREND : BULLISH
LONG TERM TREND : BEARISH
S1 RS 82.30 , S2 RS 81.20
R1 RS 84 , R2 RS 86.40
TRADING CALL
BUY AT 82.30 TO 82.20
STOP LOSS RS 81.20
TARGET RS 84
Zinc closed up $82 at $1,840 from Friday, after hitting a
one-week high of $1,844.
Zinc support is at $ 1700 and resistence is at $ 1750.
Zinc is at $ 1835 , up $ 56 , but seems to be finding
support at $ 1700.It did not break down to test the
recent lows as copper did last week.It looks like it is
in consolidation phase.A spate of production cuts which
were announced are also helping the metal to stabilize.
SHRT TERM TREND : BULLISH
LONG TERM TREND : BEARISH
S1 RS 82.30 , S2 RS 81.20
R1 RS 84 , R2 RS 86.40
TRADING CALL
BUY AT 82.30 TO 82.20
STOP LOSS RS 81.20
TARGET RS 84
Zinc closed up $82 at $1,840 from Friday, after hitting a
one-week high of $1,844.
Zinc support is at $ 1700 and resistence is at $ 1750.
Zinc is at $ 1835 , up $ 56 , but seems to be finding
support at $ 1700.It did not break down to test the
recent lows as copper did last week.It looks like it is
in consolidation phase.A spate of production cuts which
were announced are also helping the metal to stabilize.
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