At present, MCX
aluminium playing on support trendline and drilling upward. Its volume
is spiking 2X
compares to average volume
. Each spike is turning the existing trend. And moving average has tried to cross 50 MA
with 20 MA
but failed. That indicates continue uptrend ahead.
According to ADX
& Fib retracement, the bullish trend
will start after a crossover ADX
value of 25
until intraday traders can keep selling Aluminium for the targets of 150.6 - 149.6
What happens after ADX > 25?
Aluminium will start moving upside for 154 - 156.6 - 160+