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LME Aluminum: Sideways Consolidation

7 Aug 2017 2:39 pm
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Report For Date 07/08/2017

LME Aluminum - (Price figures in $/Ton)

Support is lower range of 1883-1866.

Consolidation around the DRV can be seen.

Weakness and correction can resume on fall and close below 1840.

Upside momentum can be seen on breakout and close above 1962.

Consolidation band can be 1962-1840.

Correction towards DRV-1854-1840 can be witnessed.

Deeper correction is on fall and close below 1840.



INTRA-Week LEVELS FOR Aluminum LME

STRATEGY

CLOSE

DRV

TREND

Trend Price

Trend

Date

L1

L2

CP

L3

L4

Consolidation

1890.00

1854.37

UP

1638

23.09

1866

1883

1894

1900

1917









Disclaimer: There is risk of loss in trading in derivatives and the report is not to be construed as investment advice. The information provided in this report is intended solely for informative purposes. The author, directors and other employees of CC Commodity Info Services cannot be held responsible for the accuracy of the information presented herein or for the results of the positions taken based on the opinions expressed above.


       
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