27 Nov 2018 ● 11:05 AM
Hind Zinc - Value Wave, as daily momentum crossed over to the buy side the 246 shelf support appears to be holding good for now. Longer term on this monthly chart we are seeing the 40 month average at 230 as the major pivot and support. The monthly momentum cycle is is complete with the indicator back below zero, and so we can resume a new wave higher when it starts. A third wave from the recent lows would be at least equal to wave 1 and 3=1 is near the 900 mark. Remember for all this my recent outlook of a falling dollar and rising commodities prices has to play out. Zinc has pulled back a bit and if zinc prices start to rise from here as expected then a third wave in Hindustan Zinc is not hard to imagine.