Aluminium future monthly outlook June 2017
gains. After last 2 month continues weakness aluminium prices seen some bounce
back in month of May. This month aluminium future recorded low at 120 while
high was around 127. Total 7 rupee or 6% range and closing near middle.
below 123.9 level. Daily chart price pattern as well as indicators are bearish
and suggesting downside for this commodity in June series.
120.7 and then 117.3. If sustain above 123.9, then remain bullish and might
head towards 127.3 and 130.4.
loss above major top of 126 and keep targets at 120.7 and then 117.3 for month
of June 2017.
target of 128 rupee and now consolidating around it. But fresh weekly chart
price pattern suggesting downside correction up to 113 which is historic
support for aluminium prices.