As shown in the hourly chart of zinc, price came out of bear wedge. It should drop down as soon as it got break out from the support line of the bear wedge but because of the fundamental news about Trump - China , price hover at higher levels. It threatens lot about violating wedge pattern but finally it starts its journey to right direction which is downwards.
CMP is 2526 and on MCX India it is quoting Rs 175. I shorted it already.
Jay Shriram.
Update first, 10.15 pm IST
zinc hourly
Posted zinc hourly chart is showing mirror image. Price rose in ascending wedge chart pattern. after breakout from wedge it hover horizontally for 8 hours and start falling. But amazing fact is that , price is falling in mirror pattern. You can see mirror image of left hand rising ( bear ) wedge to your right hand and price is respecting both support line and resistance line of it. Amazing live show is going on in zinc hourly chart and same time mirror pattern is going on in gold 15 min chart. I posted it on my twitter handle. To get such timely updates , follow me on twitter.
Important thing is that our position is in profit, but price is not falling vertically, it is going down making lower high lower low. It will take its time to go down and I hav lot of patience to wait. that's it at this moment. Jay Shriram.
