Commodity outlook by Tradebulls Securities: Buy Zinc, sell Natural Gas

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

Indian rupee recovered smartly to trade sub Rs 71.50/dollar on the back of strong Yuan after China postponed implementing tariffs and sending an olive branch to US. USD/CNY is trading at 7.08 from last week’s 7.15 prompting our rupee to strengthen from 72.62 to 71.50. Going forward, we expect rupee to test levels of 71.30-71.20 before consolidating. Next week’s US Fed will also play an important role in giving further direction to our rupee. Any rate cut from the US will weaken US Dollar and may appreciate our rupee. Rupee is expected to trade in the range of 71.20-71.90 this