Mcx aluminium weekly-expect correction up to 113

Mcx aluminium weekly-expect correction up to 113 Mcx aluminium weekly technical analysis 7 to 11 November 2016 Mcx aluminium future this week closed at 114.8 with loss. After last week’s strong rally aluminium prices seen some profit booking. This week top was around 116 and low was around 113, total 3 rupee fall from top.   Mcx aluminium above 113 remain bullish and buy but current price as well as indicators pattern suggesting correction and consolidation in this week. On downside traders can expect 113 to 111 level for aluminium on profit booking.   On upside 116 and 118.65 are target zones if uptrend continues after correction. Weekly closing below 113 means downtrend and lower targets of 111 and then 104 for aluminium futures.

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