ALUMINIUM : The Commodity is trading near its all time high and we can observe a "SYMMETRICAL PATTERN" formation.
 It is my observation Symmetrical patterns seen at top or bottom majorly indicate a change in trend.

It would be very early to predict which way the breakout is going to take place as we have not yet seen any shortfall in a pattern, and Volumes are irrelevant in Top Breakout and in  Downward Breakout Volumes are majorly Rising.
In Aluminium we are seeing volume is falling so yet volume is also not suggesting a proper breakout direction.
But as per the setup seen we can assume a selling pressure coming in Aluminium ahead.
Rsi is trading in Range. There was divergence seen at lower levels early because of which the commodity was not able to break its previous high and selling pressure was observed, which is indicating negativeness.
In downside move from the previous high MACD was supportive to the move but when the commodity was rising MACD crossover was not seen as well as the strength in the move was also not followed. Recent downfail can be supportive if we see a crossover in the coming trading period.  MACD not crossing previous high and turning from between is one of the suggestions that upside is near an end.
Commodity Channel Index works really well on Commodities and Currency Pair and recently we have seen a Double top breakout, which is a good sign of negativeness.

A Doji at Top and next day closing below Doji is also suggesting sellers are pushing the price down.

ADVICE : SELL @ CMP a very good opportunity to go short with 1% risk and expecting a return of more than 1.5-2%

Selling Opportunity.

Jul 10 2021

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