MCX Aluminum Elliott Wave Analysis

 MCX Aluminum hourly continuous chart

Prices has been moving in a positive formation as it is trading above the rising trend line along with that its previous highs has been crossed decisively. 

However, as per advance technicals, Wave theory suggests that prices can test its previous low. The entire upmove is corrective in nature and the recent formation looks more like a irregular flat pattern. In which it has completed wave and wave b and wave c has already started. This means wave c can entirely retrace wave b placed at 203-202 levels.

The summation is MCX Aluminum can dip near till 203-202 levels over short term.


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