Aluminium

Technical outlook

Aluminium daily chart has formed “Ascending broadening wedge pattern”. The last session ended up bullish in trend after few negative rallies inside the channel. The market is expected to continue on the bullish momentum, testing all the way through 145-147 levels in the upcoming sessions. Alternatively, if the market breaks below a key support holding at 141.50 then it might turn bearish once again. The downside rally could test 140-138 levels. Key resistance holds at 147.

Research Report call:

Technical outlook

Aluminium daily chart has formed “Ascending broadening wedge pattern”. The last few sessions ended up bearish in trend after retesting near a key resistance zone inside the channel. The market is expected to continue on the bearish momentum, once the same breaks below a key support holding now at 140. The downside rally could be testing all the way through 138-136 levels in the upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish. The upside rally could test 143-146 levels. Key resistance holds at 146.

Research Report call:

Technical outlook

Aluminium daily chart has formed “Ascending broadening wedge pattern”. The last few sessions ended up bearish in trend after retesting near a key resistance zone inside the channel. The market is expected to continue on the bearish momentum, testing all the way through 140 -138 levels in the upcoming sessions. Alternatively, if the market breaks above a key resistance holding at 145.50 then it might turn bullish once again. The upside rally could test 147-150 levels. Key support holds at 138.

Research Report call:

Research Report call:

Technical outlook

Aluminium daily chart has formed “Right angled ascending broadening wedge pattern”. The last few sessions ended up bullish in trend near a key resistance zone inside the channel. The market is expected to continue on the bullish momentum, once the same breaks above the key resistance holding near 146 and give a close on hourly basis. The upside rally could be testing all the way through 148-150 levels in the upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the same and turn bearish. The downside rally could test 143-140-138 levels. Key support holds at 138.

Research Report call:

Technical outlook

Aluminium daily chart has formed “Right angled ascending broadening wedge pattern”. The last session been a consolidation one after inside the channel. The market is expected to continue on the bearish momentum, testing all the way through 141-138 levels in the upcoming sessions. Alternatively, if the market breaks above a key resistance zone holding near 145, then it might turn bullish once again. The upside rally could test 146-148 levels. Key support holds at 138.

Research Report call:

Technical outlook

Aluminium daily chart has formed “Right angled ascending broadening wedge pattern”. The last session been a strong bearish one after few positive rallies inside the channel. The market is expected to continue on the bearish momentum, testing all the way through 140-138 levels in the upcoming sessions. Alternatively, if the market breaks above a key resistance zone holding near 145, then it might turn bullish once again. The upside rally could test 146-148 levels. Key support holds at 138.

Research Report call:

Technical outlook

Aluminium daily chart has formed “Right angled ascending broadening wedge pattern”. The last session been a strong bullish one after few consolidations inside the channel. The market is expected to continue on the bullish momentum, once the same breaks above a key resistance holding at 145. The upside rally could be testing all the way through 148-150 levels in the upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the same and turn bearish. The downside rally could test 143-140 levels. Key support holds at 140.

Research Report call:

Technical outlook

Aluminium daily chart has formed “Right angled ascending broadening wedge pattern”. The last session has taken the formation of an “Inverse hammer” candlestick pattern, which could be read as a trend reversal one. The market is expected to continue on the bullish momentum, testing all the way through 142-144 levels in the upcoming sessions. Alternatively, if the market breaks below a key support holding at 138 then it might turn bearish once again. The downside rally could test 136-134 levels. Key resistance holds at 144.

Research Report call:

Technical outlook

Aluminium daily chart has formed “Right angled ascending broadening wedge pattern”. The last session ended up bullish in trend after few negative rallies inside the channel. The market is expected to continue on the bullish momentum, testing all the way through 142-144 levels in the upcoming sessions. Alternatively, if the market breaks below a key support holding at 138 then it might turn bearish once again. The downside rally could test 136-134 levels. Key resistance holds at 144.

Research Report call: