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Published on 9/07/2020 5:28:31 PM | Source: Choice Broking Pvt Ltd

We expect a bullish movement in Aluminium towards the level 148 in thenear term - Choice Broking

Posted in Commodities Reports| #Commodity Tips #Choice Broking

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Aluminium

* Onthe daily chart, Aluminium (July) has closed above its “Horizontal Line Formation”, which onfirms bullishness. 

* Moreover, price has sustained above its “Upward Sloping Trend Line” which suggests @ an upward movement.

* Furthermore, prices have been trading above its “Parabolic SAR” which indicates control in the hands of the bulls.

* lso, momentum indicator Stochastic (6) has shown a positive crossover, which confirms positive momentum in the counter.

* Additionally, Super Trend (7,1) is in a buy signal which confirms bullish presence.

* Based on the above technical structure, we expect a bullish movement in Aluminium (July) towards the level 148 in thenear term.

Buy MCX Aluminium (July) @ 140 SL 135 TGT  148

 

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