WEEKLY ANALYSIS AND TRADE SETUP- 23 APRIL 2017

Last weekly analysis expected some recovery in zinc , though some recovery was seen but it was not as much as expected.

As zinc has broken 165 level we are in opinion to see 160-150 level ,
hence on small recovery around 170 level we taken aggressive short trade with stop above 172 for target of 165-162, and currently its moving as expected.

Trend on monthly is still up but trend line is broken and prices are overextended.
Weekly, daily and 240 min trend is down but 240 trend line is broken which is not in favor of our aggressive short trade.
Hence we will book partial profit at 165 odd and will move SL to cost after it.

OI analysis is suggestive of unwinding long positions.


Trend Analysis:




OI Data Analysis:




Trade Setup: