7 Aug 2020 ● 06:33 AM
I have avoided writing about MCX prices for metals for a while because after they went in for delivery based settlements a year back the price action was not following global prices, volumes dried up and readings were not working. Now after a long time I do see positive action and volumes coming back so maybe things have normalised here. Aluminium MCX prices have broken out of the falling channel and are in wave 3. The size of the channel if used to project the breakout we get a level near 161.