Aluminum yesterday traded with the negative node and settled -0.18% down at 110.1 LME aluminum prices opened higher at USD 2,447/mt, and later fluctuated higher and finally closed at an intraday high of USD 2,455/mt, up USD 25/mt compared with the previous trading day, or up 1%. Positions fell by 2,971 lots, while LME aluminum inventories fell by 2,700 mt to 4,272,575 mt. In yesterday's trading session aluminum has touched the low of 109.55 after opening at 110.45, and finally settled at 110.1. For today's session market is looking to take support at 109.3, a break below could see a test of 108.5 and where as resistance is now likely to be seen at 111.2, a move above could see prices testing 112.2.

Trading Ideas:

Aluminium trading range is 108.5-112.2.

Market remains in the range after the long holiday in LME.

Aluminum is taking resistance at 111.20 and support is seen at 108.

Dollar weakened but rallied later, finding support at 79.59.

BUY ALUMINIUM DEC @ 109.50 SL 108 TGT 111-112.60.MCX

YESTERDAY LME STOCK FOR ALUMINIUM CAME DOWN  BY -6225