Mcx aluminium weekly- achieved sell target of 120.8 now next target will be 118.5

Mcx aluminium future weekly technical analysis report for 15 to 19 may 2017

Mcx aluminium future weekly technical analysis report for 15 to 19 may 2017

Mcx aluminium future this week closed at 121.15 with loss. This was third losing week for this base metal.   Mcx aluminium price trend and momentum both are bearish and after weak opening below 124.5 heading lower and achieved my given target of 120.8. Below 120.8 expect next target at 118.5. On upside 121.6 and 122.2 are major resistance zones on daily chart. And fresh short entry zones for short sellers.   From long term view, mcx aluminum future hit its 2017 investment target of 128 and now correcting towards support of 113 rupees.

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