🔍 Analyzing Zinc Price Trends: A Forecast for the Near Future for LME and MCX 🔍

 Are you keeping an eye on the dynamic world of zinc prices over MCX or LME? Let's delve into the recent movements and take a glimpse into what the near future might hold! 📈💰

From February 12th, 2024, to March 12th, 2024, Zinc (MZNc1) embarked on an impressive rally, surging from USD 2280 to USD 2594. 🚀 That's nearly a 14% upside move in just a month! Talk about catching fire! 🔥💼

But as they say, all good things must come to a pause. Post-March 12th, 2024, zinc prices gracefully transitioned into a consolidation phase. The dust settled, and prices found a temporary home near the USD 2500 mark. 🏠💰

However, the calm waters were disrupted when today, we witnessed zinc prices dipping below the USD 2500 mark, settling at USD 2486. 📉💔 This movement hints at a lack of strong buyer presence at the USD 2500 zone and perhaps a slight sign of weakness in the market. 😕📉

Drawing insights from past technical data, it becomes evident that if zinc prices continue to descend, the recent support zone may vanish into thin air before reaching the USD 2400 mark. 📊🔍

For now, while prices linger above USD 2500, maintaining buy-side contracts might not seem like the wisest move. It's all about playing it smart and adapting to the evolving market conditions! 💡📉

Buyers might find an opportunity if prices witness a closing below USD 2480 or continue their downward trajectory below this critical threshold. It's a game of patience and precision! 🎯💰

Stay tuned as we navigate the twists and turns of the zinc market together! For further updates and insights, keep your eyes glued to our reports. 📝🔍✨

Let's ride the waves of zinc prices with confidence and savvy! 💼💡

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ZINI METAL