CMP: $2743
Aluminium is breaking out of a symmetrical triangle on weekly timeframe after months of consolidation.
📍 Breakout Zone: $2736 – $2799
📉 Support Levels: $2633 / $2543 – $2481
📈 Resistance Zones: $3170 – $3229, then $3388
🎯 Symmetrical Triangle Pattern Target: ~$3378 (+23% from CMP), which aligns closely with the major resistance zone between $3229 – $3388.
A weekly close above $2736 – $2799 could support further upside momentum.
If price pulls back within the triangle, dips toward the support zone around $2633 - $2481 may be worth watching for possible reactions.
👀 Watch for price action in the coming weeks, could confirm or invalidate the breakout.
#Commodities | #Aluminium | #BaseMetals | #Breakout | #ChartPattern | #SymmetricalTriangle | #TechnicalAnalysis | #PriceAction
📌 Disclaimer: This analysis is shared for educational purposes only. It is not a buy/sell recommendation. Please do your own research before making any trading decisions.
Aluminium is breaking out of a symmetrical triangle on weekly timeframe after months of consolidation.
📍 Breakout Zone: $2736 – $2799
📉 Support Levels: $2633 / $2543 – $2481
📈 Resistance Zones: $3170 – $3229, then $3388
🎯 Symmetrical Triangle Pattern Target: ~$3378 (+23% from CMP), which aligns closely with the major resistance zone between $3229 – $3388.
A weekly close above $2736 – $2799 could support further upside momentum.
If price pulls back within the triangle, dips toward the support zone around $2633 - $2481 may be worth watching for possible reactions.
👀 Watch for price action in the coming weeks, could confirm or invalidate the breakout.
#Commodities | #Aluminium | #BaseMetals | #Breakout | #ChartPattern | #SymmetricalTriangle | #TechnicalAnalysis | #PriceAction
📌 Disclaimer: This analysis is shared for educational purposes only. It is not a buy/sell recommendation. Please do your own research before making any trading decisions.
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Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.