MCX Aluminium Futures continues to maintain a strong bullish structure on the daily chart, with price consistently trading above both the 50 EMA and 100 EMA. The broader trend remains positive, while the recent higher highs and higher lows continue to support the ongoing impulsive wave structure.
The current advance appears to be developing within a larger wave sequence, with price now moving through the later stages of wave iii. Momentum remains constructive as long as Aluminium continues holding above the 364 support region, which now acts as the key level for maintaining bullish continuation.
The recent consolidation above the moving averages also suggests that buyers are still defending dips rather than allowing a deeper correction. This keeps the broader trend structure intact and supports the possibility of another impulsive leg higher.
If momentum continues building from the current structure, the next upside objectives come in around 420and 440 region over the medium term.
We will update further information on
ALUMINIUM1! soon.
The current advance appears to be developing within a larger wave sequence, with price now moving through the later stages of wave iii. Momentum remains constructive as long as Aluminium continues holding above the 364 support region, which now acts as the key level for maintaining bullish continuation.
The recent consolidation above the moving averages also suggests that buyers are still defending dips rather than allowing a deeper correction. This keeps the broader trend structure intact and supports the possibility of another impulsive leg higher.
If momentum continues building from the current structure, the next upside objectives come in around 420and 440 region over the medium term.
We will update further information on
ALUMINIUM1! soon.
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Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.