Aluminium yesterday traded with the positive node and settled 0.82% up at 116.4 as unrest in Middle East and North Africa and stronger US dollar dampened investor confidence, and LME base metals prices were mixed last night.
LME aluminum prices kept fluctuating narrowly after opening at USD 2,580/mt, with strong support reported at USD 2,570/mt, and finally prices ended at an intraday high of USD 2,585/mt, up USD 4/mt compared to the previous trading day, or up 0.15%.
In yesterday's trading session aluminium has touched the low of 114.45 after opening at 115.35, and finally settled at 116.4.
For today's session market is looking to take support at 115.1, a break below could see a test of 113.7 and where as resistance is now likely to be seen at 117.1, a move above could see prices testing 117.8.
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