Technical forecast for Aluminium

alu

Aluminium tested resistance at 1845/50 & could push above 1860 today & reach for 1880/85. This could hold the bounce so a high for the day is possible but shorts need stops above 1895.

Failure to beat 1845/50 risks a slide towards Wednesday’s low at 1821 & possibly May lows at 1809 but we would look for a bounce from here.

Jason Sen began his career in the options pits on the trading floor of LIFFE in 1987 at the age of 19, making markets on his own account. In 2001 when the trading floor closed he successfully made the transition to day trading on computer screens. Jason always had an interest in technical analysis throughout his trading career but began to study this area in depth from 2006. www.daytradeideas.com has established itself as the leading provider of... More