AHMEDABAD (Commodity Online): Aluminum May contract has moved down by 1.31% during trading session in MCX due to Dollar strength.
Aluminum opened at Rs 98.8 per Kg and made low of 97.3 while it made high of 98.95. Total volume is around 3577 lots and open interest is around 3466.
“Technically, resistance level is at 99” said Hardik Shah, Sr. Commodity Analyst with Commodity Online.
Aluminum has gain from 92.9 to 99 within last 5 trading days.14 days RSI for Aluminum is at 38 and is decreasing continuously on selling pressure.
“Fundamentally, Aluminum is strong. One can make long t position at 93 levels for long term.” said Shah.
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