base metals tips, Commodity MCX / NCDEX tips, FREE Stock, Commodity & Forex tips, mcx tips

EWT – Identifying Bullish Trends in MCX Aluminium

Free mcx copper chart calls

Free mcx copper chart calls

Timeframe: Daily

MCX aluminium has been undergoing a corrective a-b-c wave pattern for over 28 weeks. The price of MCX aluminium is currently trading above key exponential moving averages, specifically the 200/100/50/200 exponential moving averages, indicating bullish momentum in the market.

The average true range (ATR) of the price is 2.92 and is increasing, which further validates the upward trend. The price of MCX copper has completed the corrective wave (B) at 201.3 and has now started forming sub-waves of the impulsive wave (C). As a result, there is an opportunity for cautious traders to engage in trades after the breakout of sub-wave 1 of the impulsive wave C.

In case the price of MCX aluminium sustains above the level of 212, traders can execute trades with targets set at 217 – 223 – 231+. It is important to note that wave 2 cannot overlap the starting point of Wave 1.

Get free MCX ideas, chart setups, and analysis for the upcoming session: Commodity Tips

Have you any questions/feedback about this article? Please leave your queries in the comment box for answers.

Disclaimer: The information provided on this website, including but not limited to stock, commodity, and forex trading tips, technical analysis, and research reports, is solely for educational and informational purposes. It should not be considered as financial advice or a recommendation to engage in any trading activity. Trading in stocks, commodities, and forex involves substantial risks, and you should carefully consider your financial situation and consult with a professional advisor before making any trading decisions. Moneymunch.com and its authors do not guarantee the accuracy, completeness, or reliability of the information provided, and shall not be held responsible for any losses or damages incurred as a result of using or relying on such information. Trading in the financial markets is subject to market risks, and past performance is not indicative of future results. By accessing and using this website, you acknowledge and agree to the terms of this disclaimer.
Previous ArticleNext Article
Mr.Dev(s) is a team of non-biased certified technical and research analysts with extensive experience in the financial markets dating back to 1997. They accurately forecast market movements and position their clients accordingly. They are popular online contributors on many channels and platforms, known for their non-biased advice and commitment to helping investors make informed decisions. The team is also the founder of forex account management services on Moneymunch.com, demonstrating their knowledge and experience in the financial world. Investors can rely on Mr.Dev(s) for research reports and opinions, as well as trading guidance.

Join Today (Free): Commodity Tips | Forex Signals

5 Comments

Write a Comment

Comment Policy: We love comments and appreciate the time that readers spend to share ideas and give feedback. However, all comments are manually moderated and those deemed to be spam or solely promotional will be deleted. Your email address will not be published. Required fields are marked *

Send this to a friend