On analysis of the movement of Zinc Futures, I find signs of exhaustion are evident enough to attract more bears at the current levels. Formation of an ‘Exhaustive Candle’ in 4 Hr. Chart confirms a beginning of downward move in zinc futures very soon amid the growing geopolitical moves.
Tariff trade war effects are yet to make their appearance on the movement of base metals, as most of the emerging markets have been struggling with their weakening currencies which impact their import capacity. Have a look at the following chart in different time frames for mapping the further directional moves of zinc futures during the upcoming weeks.
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