Friday 13 December 2019

Aluminium Dec Daily Chart Has Formed "Falling Channel" Pattern

Aluminium Dec daily chart has formed "Falling channel" pattern. The last few sessions ended up in sideways trend along with some corrections inside the channel. 

The market is expected to continue on the bullish momentum based on the current price action, once the same breaks above a key resistance holding at 134. The upside rally could be testing all the way through 136-137 levels in the upcoming sessions. 

Alternatively, if the key resistance holds strong then the market might retest the same and turn bearish. The downside rally could test up to 131 level. Key support holds at 131.

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