Aluminium Report

Technical outlook

Aluminium June 4hr chart has formed "Rising channel" pattern. The last few sessions been in sideways trend along with some corrections inside the channel. The market is expected to continue on bullish momentum based on the current price action, once the same breaks above a key resistance holding at 135.50. The upside rally could be testing all the way through 136.50-137.50 levels in the upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the same and turn the trend to bearish/sideways mode. Key support holds at 134.

Technical outlook

Aluminium June 4hr chart has formed "Rising channel" pattern. The last few sessions been in sideways trend along with some corrections inside the channel. The market is expected to continue on bearish momentum based on the current price action, once the same breaks below a key support holding at 135.20. The downside rally could be testing all the way through 134-133.20 levels in the upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn the trend to bullish/sideways mode. Key resistance holds at 136.50.

Technical outlook

Aluminium June 4hr chart has formed "Rising wedge" pattern. The last few sessions been in sideways trend along with some corrections inside the channel. The market is expected to continue on bearish momentum based on the current price action, once the same breaks below a key support holding at 135.80. The downside rally could be testing all the way through 134.60-134 levels in the upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn the trend to bullish/sideways mode. Key resistance holds at 138.50.

Technical outlook

Aluminium June daily chart has formed "Megaphone chart" pattern. The last few sessions been in sideways trend along with some corrections inside the channel. The market is expected to continue on bullish momentum based on the current price action, once the same breaks above a key resistance holding at 138.50. The upside rally could be testing all the way through 139.50-141 levels in the upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the same and turn the trend to bearish/sideways mode. Key support holds at 135.50.

Technical outlook

Aluminium June daily chart has formed "Megaphone chart" pattern. The last few sessions been in sideways trend along with some corrections inside the channel. The market is expected to continue on bullish momentum based on the current price action, once the same breaks above a key resistance holding at 137. The upside rally could be testing all the way through 139 levels in the upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the same and turn the trend to bearish/sideways mode. Key support holds at 134.

Technical outlook

Aluminium June daily chart has formed "Right angled descending broadening wedge" pattern. The last few sessions been in sideways trend along with some corrections inside the channel. The market is expected to continue on bullish momentum based on the current price action, once the same breaks above a key resistance holding at 136. The upside rally could be testing all the way through 138 levels in the upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the same and turn the trend to bearish/sideways mode. Key support holds at 133.

Technical outlook

Aluminium June daily chart has formed "Right angled descending broadening wedge" pattern. The last few sessions been in sideways trend along with some corrections inside the channel. The market is expected to continue on bullish momentum based on the current price action, once the same breaks above a key resistance holding at 136. The upside rally could be testing all the way through 138 levels in the upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the same and turn the trend to bearish/sideways mode. Key support holds at 133.

Technical outlook

Aluminium June weekly chart has formed "Falling wedge" pattern. The last few sessions been in sideways trend along with some corrections inside the channel. The market is expected to continue on bullish momentum based on the current price action, testing all the way through 137.50 levels in the upcoming sessions. Alternatively, if the market breaks below a key support holding at 133 then it might turn the trend to bearish/sideways mode. Key resistance holds at 137.50.

Technical outlook

Aluminium June weekly chart has formed "Falling wedge" pattern. The last few sessions been in sideways trend along with some corrections inside the channel. The market is expected to continue on bullish momentum based on the current price action, once the same breaks above a key resistance holding at 134. The upside rally could be testing all the way through 135.50-137 levels in the upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the same and turn the trend to bearish/sideways mode. Key support holds at 130.

Technical outlook

Aluminium June daily chart has formed "Falling wedge" pattern. The last few sessions been in sideways trend along with some corrections inside the channel. The market is expected to continue on bullish momentum based on the current price action, once the same breaks above a key resistance holding at 133. The upside rally could be testing all the way through 134-135 levels in the upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the same and turn the trend to bearish/sideways mode. Key support holds at 132.