AM1! trade ideas
Aluminium - ADX & Fib Retracement Reverse signals & analysisAt 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+ levels.
Aluminium analysis with rangesIt contains ranges as well as the description , sell with proper price action
Is Aluminium On the Way Up Now?As per the chart, keep your eyes on the Aluminium-bull resistance line. We may see prices at 143 - 144.6 or above soon.
This rally will stop after breaking out the resistance line . So what's next then? You can take fib levels as targets.
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