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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Professional Market Trader And Owner Of Dalal Street Winners Advisory And Coaching Services. Working Since 2007 And Online Presence Since 2010. We Provide Highly Accurate And Professional 1 Entry And 1 Exit Future, Option, Commodity, Currency And Intraday Stock Tips On Whatsapp With Live Support And Follow Up.
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