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Zinc on the brink of major downward move

Angela Mangan

QMG Pty Ltd

Zinc on the brink of major downward move. Last night the 3 month LME zinc price held key technical support by a very narrow margin. Failure to hold this support on a closing basis would generate a technical sell signal. The 3 month LME nickel price also has the potential to generate a technical sell signal. Over the last 3 weeks, the spot gold price has generated a secondary technical sell signal, and the 3 month LME copper price generated a sell signal. It would be a technically negative indicator for the metal sector outlook if the major metal prices generate sell signals in rapid succession. Metals have the potential to emerge as negative technical sector theme.


Angela Mangan
Angela Mangan
Technical Analyst
QMG Pty Ltd

Angela has over 30 years experience in the technical analysis field. She provides technical analysis coverage of major Australian and global stocks / key markets, including provision of a bespoke technical service to wholesale clients.

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