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Aluminium Outlook for mcx traders

MCX Aluminium December contract closed at 117.20 changed by 1.10 points. Aluminium has formed a bearish engulfing candlestick pattern around resistance area of 119 which is showing the presence of sellers around 119. Today support will be around 116.80 and if it will sustain below 116.80 will test to 116-115 areas. Key support will remain at 113. In the upper side, Resistance is now seen near 119 if sustained above that level will bring to 121-122 on the chart.

Aluminium Trading range for the day is expected among the key support at 115.8 and resistance at 117.50.

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