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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