Commodity outlook by Tradebulls Securities: Buy zinc, sell copper

Commodity outlook and trading ideas by Bhavik Patel - Sr. Technical Analyst (Commodities), Tradebulls.

Indian rupee is oscillating between 71.30-71.80 against the US Dollar. Volatility has increased because of India-Pakistan escalation. The overall trend of rupee remains strong against the US dollar. If we look at Dollar index, it has breached 96 levels, so we expect further weakness in the greenback but any tension flare-up between the two countries may lead to rupee depreciating. The recent high of 71.80 is proving to be strong resistance and if rupee breaches and sustains above that level, then we may see trend reversal. Till then, it is sell on rise.

Gold in dollar terms looks to be trading