Mcx aluminium weekly- almost hit 127 rupee swing target

Mcx aluminium future weekly technical analysis report for 29
may to 2 June 2017

Mcx aluminium future this week closed at 125.9 with gain. After
last week’s strong short covering rally we seen some follow up buying and mcx
aluminium future almost touched my given swing target of 127 rupees.
This week aluminium prices rallied from 124 to 127 almost 3
rupee gains in 1 week. In 2 weeks we saw almost 6 rupee gains for aluminum
prices.
Mcx aluminium price trend and momentum both are now bullish
and above 127 expect next swing target at 130.6. For next week, mcx aluminium
future support zones as well as fresh buying zones will be 124.8 and 124. While
on upside 127 and 1306 are resistances as well as target zones for next week.

From long term view, mcx aluminum future hit its 2017
investment target of 128 and was correcting towards support of 113 rupees but
now look like heading for breakout above 128 for next investment target of 141.
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