Aluminium future technical analysis for 25 to 29 march 2019.

Aluminium future daily chart analysis

Aluminium future on Friday closed at 145.7 with gain. On daily chart, aluminium future is in uptrend and we saw breakout above 134.5 rupees. Aluminium future now correcting from top of 150 rupee and hit 147.5 on downside and then hit 143. Below 143 expect another correction and consolidation wave towards 139 and 134.5 levels.

Aluminium future weekly chart analysis

Mcx Aluminium future this week showing gains. This was second gaining week for aluminium prices. On weekly chart aluminium future is in uptrend and trading above 144.5 support zone. Aluminium if sustain above 144.5 then expect 164 rupee level as investment target in 2019. But weekly chart indicators are in overbought zone so downside looks promising ahead. Below 144.5 on weekly closing basis expect long term downtrend and target of 110 rupees.

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Aluminium future technical analysis for 14 to 18 January 2019.

Aluminium future daily chart technical analysis

Aluminium future on Friday closed at 128.8 with loss. On daily chart, aluminium future is in downtrend and we saw low up to 128 rupees in this week.

On daily chart, aluminium prices are trading below all short term averages with bearish signals on indicators and oscillators but looking oversold so expect recovery ahead. On upside 133 rupee is major resistance and prices might recover towards it as we saw bottomed out pattern around 125 rupee level. Above 133 expect bullish trend and upside targets up to 139.5 and above.

Aluminium future weekly chart technical analysis

Mcx Aluminium future this week showing loss. This was first losing week for aluminium prices after last week’s strong recovery.

On weekly chart aluminium future is in downtrend and trading below major weekly averages with oversold indicators and oscillators. So expect bounce back here in medium terms. On upside 144 will remain as strong hurdle for aluminium prices and below it long term trend will remain weak and sell. But expect recovery towards it from current levels. Aluminium on downside have support around 110 and then 90 and that will be bearish target zones if downtrend continues here.

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Aluminium future technical analysis for the month of January and also long term investment forecast for year 2019.

Aluminium future daily chart technical analysis

Aluminium future on Friday closed at 129.5 with loss. On daily chart, aluminium future is in downtrend with strong bearish momentum. Prices are trading below all short term averages with strong bearish price and indicators patterns. For month of January, mcx aluminium future below 134.5 rupees resistance level will remain weak and sell on rise. On downside my bearish target zones are around 126 and then 121 rupees.

Aluminium future weekly chart technical analysis

Mcx Aluminium future this week closed with loss. This was third losing week and I these 4 weeks aluminium future tumbled from highs of 143 to low of 129 means 14 rupee loss or almost 10% drop in these 3 weeks. On weekly chart aluminium prices are trading below all major averages and with absolute sell signals on indicators.

In 2019 with medium to long term view, aluminium future below 146.5 will remain weak and sell on rise. On downside 115 and then 96 rupees are support zones as well as target levels for this downtrend. Expect upside above 146.5 rupees only.

Aluminium future monthly chart technical analysis

Mcx Aluminium future in month of December closed with loss. This was forth losing month for aluminium prices. We saw top of 168 in October and since then continue profit booking as well as short selling pushed aluminium prices towards 146 rupee support level. Now look like given major long term breakdown below 146 rupee level and prices will head towards lower bearish target zones.

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Aluminium future technical analysis for 24 to 28 December 2018.

Aluminium future daily chart technical analysis

Aluminium future on Friday closed at 133.85 with loss. On daily chart, aluminium future is in downtrend and we saw breakdown around 139.5 rupee level and since then prices continually falling on profit booking as well as fresh short selling.

On daily chart, aluminium prices are trading below all short term averages with bearish signals on indicators and oscillators. Below 139.5 expect this bearish trend to continue and on downside 132 and then 127.5 are support zones as well as target levels for this bearish move. We saw low of 133.5 in this week, but now indicators are deeply oversold so expect bounce back ahead.

Aluminium future weekly chart technical analysis

Mcx Aluminium future this week showing big loss. This was second losing week for aluminium prices and in these 2 weeks aluminium prices tumbled from 143 high to low of 133.5.

On weekly chart aluminium future is now trading below major support of 134 rupee and if sustain below 134 on weekly basis then expect long term downtrend and 123 to 103 rupees. On reversal rally that will be bets buying opportunity for 145 to 154 rupees in medium terms.

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Aluminium future technical analysis for 17 to 21 December 2018.

Aluminium future daily chart technical analysis

Aluminium future on Friday closed at 137.55 with loss. On daily chart, aluminium future is in downtrend ad we saw breakdown around 148 rupee level and since then prices continually falling on profit booking as well as fresh short selling.

On daily chart, aluminium prices are trading below all short term averages with bearish signals on indicators and oscillators. Below 139.5 expect this bearish trend to continue and on downside 132 and then 127.5 are support zones as well as target levels for this bearish move.

Aluminium future weekly chart technical analysis

Mcx Aluminium future this week showing big loss. This was first losing week for aluminium prices after last 2 weeks recovery move. This week we saw high around 143 and low of 137 and closed near lows with bearish outlook.

On weekly chart aluminium future major support around 134 rupee and if closes below 134 on weekly basis then expect long term downtrend and 123 to 103 rupees. On upside 142-144 is major supply zone on weekly chart.

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Aluminium future technical analysis for December 2018.

Aluminium future daily chart technical analysis

Aluminium future on Friday closed at 137.2 with gain. On daily chart, aluminium future is in downtrend but highly oversold on chart and now bouncing back towards 139.3 level. For month of December, 139.3 will remain as make or break level. Below it expect downtrend continuation and lower levels up to 132 to 127.5. but if gives breakout above it then expect sharp price surge on account of short covering rallies towards 144 to 151 rupee. Currently aluminium prices bouncing back from oversold zone towards levels of 139.3 rupees.

Aluminium future weekly chart technical analysis

Mcx Aluminium future this week closed at 137.2 with gain. This was first gaining week for aluminium prices after last 7 weeks sell off. This week we saw recovery from 135 rupee lows which will act as temporary bottom for prices.

From medium to long term view, aluminium done 154 and 165 investment targets and now after that correcting towards major long term support of 134 rupees. Below 134 expect long term breakdown and lower levels up to 122 and below. Reversal above 134 will be best investment opportunity for upside targets of 154 and 165 again.

Aluminium future monthly chart technical analysis

Mcx Aluminium future in month of November closed with loss. This was third losing month for aluminium prices. We saw top of 168 in October and since then continue profit booking as well as short selling pushed aluminium prices towards 134 rupee support level. Now look like taken support around 134 and bouncing back towards previous highs.

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Aluminium weekly: Hit 138 sell TGT, Next level to watch 128

Aluminium future technical analysis for 19 to 23 November 2018.

Aluminium future daily chart technical analysis

Aluminium future on Friday closed at 139.5 with gain. On daily chart, aluminium future is in downtrend ad we saw breakdown around 148 rupee level and since then prices continually falling on profit booking as well as fresh short selling.

On daily chart, aluminium prices are trading below all short term averages. Stochastics indicator is in oversold zone with early recovery signal while MACD is below zero and suggesting some upside for prices on bounce back in upcoming days.

For month of November, mcx aluminium future below 152 was bearish or sell and my targets are around 138 and then 128, out of which 138 is done and now watch for 138 level support for next breakdown or reversal move. From here prices can give some bounce back before next major move.

Aluminium future weekly chart technical analysis

Mcx Aluminium future this week closed at 139.5 with huge loss. This was sixth losing week for aluminium prices. In these 6 weeks we saw almost 18 rupee drop from the top while in this week aluminium tumbled by almost 6 rupee from the top. On weekly chart aluminium prices trading below major averages with bearish trend and momentum.

Weekly chart stochastic indicator approaching oversold zone while MACD is below zero with bearish divergences.

From medium to long term view, aluminium done 154 and 165 investment targets and now after that correcting towards major long term support of 134 rupees. Below 134 expect long term breakdown and lower levels up to 122 and below.

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