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Aluminium – ADX & Fib Retracement Reverse signals & analysis

Posted: 21 Oct 2020 02:33 AM PDT

At present, MCX aluminium playing on support trendline and drilling upward. Its volume is spiking 2X compares to average volume. Each spike is turning the existing trend. And moving average has tried to cross 50 MA with 20 MA but failed. That indicates continue uptrend ahead.

According to ADX & Fib retracement, the bullish trend will start after a crossover ADX value of 25 until intraday traders can keep selling Aluminium for the targets of 150.6 – 149.6.

What happens after ADX > 25?
Aluminium will start moving upside for 154 – 156.6 – 160+ levels.

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