The energy crisis continues to provide a strong support, not only for crude prices, but also for industrial metals. Last week aluminium added 9.2% and copper prices gained 9.17%. The absolute leader was zinc that jumped 20.49% in price. The price of aluminium, which is one of the most energy-intensive commodities, is at a record high. On Monday morning its price...
Just to be honest, how many of you traders knew of Guinea existence before this September? And if You did, how good you knew this country? Can you show it clearly on the map? Many of market players followed by the crowd are screaming out loud that the military coup in this country is responsible for a spike in aluminium prices. However, if we look at the price...
Malaysia Aluminum Counters have big divergence with Aluminum Futures in the Global Market. Aluminum Counters submitted a very good growth QR report although MCO 3.0 have been take place since 1st June. But The effect of MCO 3.0 are very minimal. The counters have a very high chance being wrong killing by the despair emotion of MCO 3.0 in the past. Currently, It...
Slower growth paired with your pick of leading indicators show signs of a global economy needing less aluminum. Supply isn’t in a notable shortfall and consumption isn’t strong enough to warrant such high prices.Commodity prices are likely to come under pressure as monetary policy is tightened around the world.
Shorterm Bullish sentiment Trendline breakout Adx, RSI , VWAP along with moving averages Looking +ve .
Aluminium price is going down to reach 175$ level
Targets 1+ points Stop Loss 2 points Only for risk takers
Aluminium testing previous breakdown, a close above 163 can result in good upward move !!
MCX Aluminium has started falling due to Elliott Wave's ABC correction. Expected A is at 100% or 161% retracement of wave 5. Therefore, it can start rising from here to the level of 164.4 . The day traders can have the advantage of this impulsive ride of B . According to ABC correction, we may see the Aluminium prices below 161.6 - 159.4 before the weekend.
Sell aluminium target 151.50 and 151.35
According to this chart, aluminium is moving flat under the rectangle pattern. The top of this rectangle is the resistance , and the bottom of this rectangle is the support . The trend is making frequent parallel channels between the support and resistance of this rectangle. At present, aluminium is playing into support trendline (B) . There is a crucial...
# Intraday Commodity Future Buy ALUMINIUM JUL @137.05-137.15 SL 136.50 TGT 138.20 # TK cross over on 30 min chart. # MACD also indicates positive momentum continues.
Analysis is based on Ascending Triangle . Going Long on Aluminium if the price closes above the Upper line of triangle(138.5). Used Fibonnacci Retracement to find levels of resistance, where I have placed targets. Target 1- 141.55 Target 2- 145.50
This information is sufficient for day traders. Further information will update soon.
DOWNTREND FROM 2015 ALMOST COMPLETELY RETRACED PRICE HAS MORE THAN DOUBLED IN 3 MONTHS SECTOR ROTATION PROBABLY UNDERWAY, GOLD AND OIL ALSO UP GEOPOLITICAL UNREST IS AFFECTING PRICE: The inclusion of Russia’s aluminum giant RUSAL on the US sanctions list may significantly alter the metals market, threatening to break global supply chains and spark a deficit...