Commodity Outlook for Aluminium by KediaCommodity
Aluminium yesterday traded with the positive node and settled 1.32% up at 94.85. Some support had been seen from the LME stock also which came up by -8250mt, the total stock at LME is now at 4571975mt. In yesterday's trading session aluminium has touched the low of 93.2 after opening at 93.2, and finally settled at 94.85. For today's session market is looking to take support at 93.5, a break below could see a test of 92.1 and where as resistance is now likely to be seen at 95.9, a move above could see prices testing 97.
Aluminium trading range is 92.1-97.
Aluminium along with other metals ended up but looks to trade range bound
Support for aluminium is at 93.60 and resistance is at 95.90 level.
Aluminium daily stock at Shanghai exchange came up by 126 tonnes.
SELL ALUMINIUM FEB@ 94.80 SL 95.60 TGT 93.90-93.10-92.20. MCX