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From : Commodities Daily Hotline: 27 January 2015
Chart of the day: Aluminium reasserts rally

 

Following earlier weakness, most contracts in the Industrial Metals sector launched a comeback.  This includes the Aluminium instrument, where we hold a long trade. The chart shows firm intraday support arriving at 1812.5 to reassert the recovery from oversold.  The strength of yesterday's move would indicate capacity for a serious challenge upon the sideways area around 1900 before long.  A clearance of that barrier; near the 50-day moving average, would leave the 2000 region as the next target.  The stop on the long is raised to 1800.

 






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