Tips Trading for Aluminium - Commodity Trading Ideas

Tips Trading for Aluminium - Commodity Trading Ideas ; Aluminium yesterday traded with the negative node and settled -0.56% down at 116.4 with the weaker US dollar and positive economic data helped push up LME aluminum prices. LME aluminum prices climbed steadily after opening at USD 2,593/mt, and later hit a record high of USD 2,625/mt.

Later, as long investors exited the market after profit-taking, LME aluminum prices lost some gains, with prices finally closing at USD 2,609/mt, up USD 6/mt compared with the previous trading day. In yesterday's trading session aluminium has touched the low of 115.95 after opening at 116.5, and finally settled at 116.4. For today's session market is looking to take support at 115.9, a break below could see a test of 115.4 and where as resistance is now likely to be seen at 117, a move above could see prices testing 117.5.

Trading Ideas:
Aluminium trading range is 115.4-118.4.
Unwrought aluminium stocks 1.468 million tonne in Jan -IAI
Aluminium is taking support at 115.60 and resistance at 118 level.
Aluminium daily stocks at Shanghai exchange came down by 173 tonnes.source Commodity Trading Tips for Aluminium by KediaCommodity For the latest updates PRESS CTR + D or visit Stock Market news Today

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