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Home > Blog > Aluminium Outlook for Short term traders 05.05.2012

Aluminium Outlook for Short term traders 05.05.2012Back

Aluminum May contract settled at 106.20 down by 0.15 Rupees. Metal settled with a star candlestick pattern indicating indecision between bulls and bears. Today price objective for bulls would be 106.55 above that we will see 108 and more upside. Support is now seen near 105.70 any failure of this level would bring 105-104.30 on cards.

Aluminium trading range for the day is expected among the key support at 105.5 and resistance at 107.

Recommendation:

·         Today buying aluminum above 106.60 with stop loss below 105.70 for targeting 107.50-108.30 and more upside.

·         Selling below 105.70 with stop loss above 106.600 for targeting 105-104.50 and more down side. 
Aluminium Outlook for Short term traders 05.05.2012
 
 
 
Posted on: 05-May-2014 | Posted by: NIFM | Comment('0')
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