Wednesday, 29 November 2017

Crude Oil is trading near the important support level of 3700. RSI on daily chart is below 60 levels indicating low momentum in prices. Daily close  below 3700 levels can drag the prices lower towards 3600 levels in few days.
Today we have Crude Oil Inventory data as well. Huge draw in Inventory can support the prices, else further correction is expected in prices. Traders are also waiting for the OPEC outcome which will decide the future trend for the market.
Zinc has broken down the important support of 203.50 levels and the trend is looking weak. RSI on hourly chart is below 60 levels, indicating weakness in prices. Intermediate support level can be seen near 202 levels. Daily close below the prescribed levels could drift the prices lower towards 198/196 in few trading sessions.

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