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Home > Blog > Aluminium Bullish Harami On Daily Chart 16.06.2014

Aluminium Bullish Harami On Daily Chart 16.06.2014Back

Aluminum June contract settled at 108.65 up by 1.30 rupees. Aluminum failed to continue fall started on June 10, 2014 and settled with a bullish harami candlestick formation. Today price objective for bears would be 107 any failure below that level would bring 106 and more down side. Resistance is now seen near 109.55 any sustained move above that level would bring 111 and more upside.

Aluminium trading range for the day is expected among the key support at 107 and resistance at 109.60.

Recommendation:

·         Today again selling aluminum on jumps around 108.35-108.50 for targeting 107.30-106.40 and more down side with stop loss above 109.60 might be appropriate for short term.

·         In alternative scenario selling below 107 with stop loss above with stop loss above 108.20 for targeting 106 and more down side.

·         Buying can be taken above 109.60 with stop loss below 109 for targeting 111 and more upside.  

 

 
Aluminium Bullish Harami On Daily Chart 16.06.2014
 
 
 
Posted on: 16-Jun-2014 | Posted by: NIFM | Comment('0')
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