MCX Zinc has provided a classic breakout from the
downward sloping parallel channel which is quite positive for the bulls
in the short term. It has posted a positive weekly close after four
consecutive negative close which increases the probability of a bounce
back till 388.2 percent to 50 percent retracement level which are 108.90
to 110.80 levels respectively. The support on the lower side is now
pegged at 103.50 and below that 102.40 levels
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