Mcx aluminium weekly- bullish reversal hit target of 124.4 now heading for 127

Mcx aluminium future weekly technical analysis report for 22 to 26 may 2017

Mcx aluminium future weekly technical analysis report for 22 to 26 may 2017

Mcx aluminium future this week closed at 125.45 with huge gain. This week aluminium prices rallied from 121 to 125.5 almost 4.5 rupee gains in 1 week. After last 3 weeks losses aluminium prices seen strong short covering as well as fresh speculative buying.   Mcx aluminium price trend and momentum both are now bullish and now given bullish trend breakout above 124.4 for next swing target of 127 rupees. For next week, mcx aluminium future support zones as well as fresh buying zones will be 124.3 and 123. While on upside 125.5 and 126.7 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.   keywords: 1kg aluminium price, aluminium price per kg, aluminium scrap price in india

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