SHFE Aluminium Price Forecast Based On Futures Technical Indicators

SHANGHAI, May 15 (SMM) - The futures technical indicators suggest that the most-traded SHFE aluminium contract will fluctuate downwards or bottom out slightly this week. Based on the 4-hour K-line, SMM observed a total of 43 technical indicators, of which 20 were neutral, 8 were bullish, and 15 were bearish. Most of the oscillating indicators pointed to rangebound price movement, while the momentum indicators and trend indicators were generally bearish. Bullish signals generally indicate that the market is in an oversold territory, hence a price rally is possible. Bearish signals outnumbered bullish ones.