Free MCX Aluminium Tips : Above ₹ 146, Buy 100-200-500 Lots and So Jaao – MCX King Neal Bhai
“No Magic, No Miracle, Just Power of Level”
Neal Bhai Reports (NBR) By CFA’s and MFA’s Technical Team
Mobile No. 9582247600 & 9899900589
Aluminium on MCX settled down 0.81% at 147.40 tracking weakness from LME aluminium which finished down 0.9 per cent at $US2,155 a tonne after reaching $US 2150, the weakest since April 10, fell for the most part during the day as consumption weakens and inventory draw slows.
Last night pressure mounted as the US dollar index dipped overnight on risk aversion and closed at 94.3. News reports suggested that companies with 25% or more Chinese ownership may be banned from buying US businesses with “industrially significant technology”.
Base metals fell across the board overnight except for SHFE lead. LME nickel led the decline with a sharp loss of 3.8%, followed with zinc, down over 3%. LME zinc touched the lowest level in more than 10 months on consistent inventory growth and growing anticipation of production increase at mines.