Aluminium Futures
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MCX ALUMINIUM - LOOKING GOOD FOR A SHORT TRADE ?MCX ALUMINIUM is currently trading at 212.
210-215 is a good resistance zone for Aluminium as per price action and longterm charts.
Hence I'm opening short positions in MCX Aluminium Futures at CMP 212.
I will be adding more position if 215 comes & will hold with SL 218.
Targets I'm expecting ar
Aluminum is still in redOm Namah Shivay
Aluminum has traded from 93 lifetime low to 325 lifetimes high. Made high during March 2022 before 1.5 years. After 1.5 years, it looks like still negative and has downward targets - only if 204 level is safe and not breached.
From the weekly chart, it is clear that there is signi
ALUMINUM_LONGAluminum is taking weekly support with RSI reversal. As per technical analysis and expectation in world economy recovery strong demand can come from CHINA . Nearest Gann level is 196-192.52.
Stop loss can be kept at 195.7-195 in MCX and weekly basis AL can touch 205 -215 in one month.
I am not recom
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Summarizing what the indicators are suggesting.
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Strong sellSellNeutralBuyStrong buy
A representation of what an asset is worth today and what the market thinks it will be worth in the future.
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Displays a symbol's price movements over previous years to identify recurring trends.
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Frequently Asked Questions
Open interest is the number of contracts held by traders in active positions — they're not closed or expired. For Aluminium Futures this number is 4.15 K. You can use it to track a prevailing market trend and adjust your own strategy: declining open interest for Aluminium Futures shows that traders are closing their positions, which means a weakening trend.
Buying or selling futures contracts depends on many factors: season, underlying commodity, your own trading strategy. So mostly it's up to you, but if you look for some certain calculations to take into account, you can study technical analysis for Aluminium Futures. Today its technical rating is neutral, but remember that market conditions change all the time, so it's always crucial to do your own research. See more of Aluminium Futures technicals for a more comprehensive analysis.