Aluminium consolidated the previous week at the LME with the European economy and the euro - dollar correlation being again the main focus.
The primary aluminium price traded with no clear direction, following the US dollar but at the end of the week.
Aluminium has touched a low of Rs 92.1 a kg after opening at Rs 93.05, and last traded at Rs92.85.
For today market is looking for the support at 92.2, a break below could see a test of 91.6 and where as resistance is now likely to be seen at 93.3, a move above could see prices testing 93.8.
Trading Ideas:
Aluminium trading range is 91.6-93.8.
Aluminium in consolidation mode at the LME
Support for aluminium is at 92.20 and resistance is at 93.80 level.
Aluminium daily stock at Shanghai exchange came down by -20 tonnes.
SELL ALUMINIUM JUNE AT 94 SL 95.50 TGT 92.20-91.MCX
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