MTECHTIPS MCX ALUMINIUM INTRADAY trading analysis 31-05-2016
DAILY :-Mcx aluminium future closed at 103.45. Here on downside 103 and 102.55 are support zones for intraday. On upside 104 and 104.5 are intraday resistances.
WEEKLY :-Mcx aluminium future this week closed with loss. After fall from 111 levels aluminium prices are trading in range of 102 to 106. But now is at decisive points. From here downside move will be breakdown and reversal will be best buying opportunity.For next week, mcx aluminium outlook remain bearish and below 106 remain sell on rise. On downside 102.6 and 99.5 are support zones as well as tgt levels for next week. On upside 106 and 108 are resistance zones. Mcx aluminium monthly chart suggesting downside levels up to 98.5 for this corrective move. 111 level is strong top resistance for aluminium prices on monthly chart.