Aluminium industry

Monitor and predict the growth prospects and potential risks of the Aluminium industry by examining the financial and macroeconomic factors affecting it and the latest Aluminium news tracked by MacroVar. Sign Up Free to get notified instantly on the latest Aluminium updates and get full access to MacroVar advanced analytics of Global Financial Markets, Economies and Financial Risk.

Click to explore the factors and the financial models used by MacroVar to analyze the Aluminium industry trend, growth prospects and risks.

Aluminium industry Markets

Market Symbol Last Mom Trend Exh RSI 1D% 1W% 1M% 1Y%
Aluminium aluminium 281.63 1 1 2.55942 57.9083 0.02118 0.04304 0.05424 1.53744
US Aluminium industry US.ALUMINIUM 281.63 1 1 2.55942 57.9083 0.02118 0.04304 0.05424 1.53744

Aluminium industry News

Aluminium industry Analysis

MacroVar monitors the performance, risk, trend and momentum of the Aluminium industry by examining the stock and credit performance of major Aluminium companies across the US, Europe, Eastern Europe and Asia Pacific. Aluminium Stock performance is monitored by analyzing STOXX equity indices of major Aluminium companies while Aluminium credit performance is monitored by analyzing Markit iBoxx credit indices reflecting the performance of the Aluminium high yield corporate bond market.

MacroVar also monitors fundamental indicators closely linked to the Aluminium sector published monthly including analysis of sector specific PMI indicators, components of Manufacturing & Services PMI and Economic Sentiment Indicators analysis.

MacroVar also monitors other factors closely related to the Aluminium industry like closely related financial markets or macroeconmic indicators.

MacroVar estimates the following signals:: Aluminium momentum, Aluminium trend, Aluminium oscillator, Aluminium RSI and Aluminium returns.

Aluminium industry description

The Aluminum subsector includes companies engaged in the mining and processing of bauxite or manufacturing and distribution aluminum bars, rods and other products for use by other industries. It Excludes manufacturers of finished aluminum products, such as siding, which are categorized according to the type of end product

Aluminium industry Momentum

Momentum is used to capture moves in shorter timeframes than trends. Momentum is the relative change occurring in markets. Relative change is different to a trend. A long-term trend can be up but the short-term momentum of a specific market can be 0. If a market moves down and then moves up and then moves back down the net relative change in price is 0. That means momentum is 0. A short-term positive momentum, with a long-term downtrend results in markets with no momentum.

MacroVar Aluminium momentum signal ranges from -100 to +100. The Aluminium momentum signal is derived as the mean value from 4 calculations for the Aluminium . The timeframes monitored are the following: 1 Day (1 trading day), 1 Week (5 trading days), 1 Month (20 trading days), 3 Months (60 trading days)
For each timeframe, the following calculations are performed: 1. Aluminium return is calculated for the specific timeframe and 2. if the return calculated is higher than 0, signal value output is 1 else signal value is -1. Aluminium momentum signal is the aggregate of the the 4 values. A technical momentum rollover is identified when Aluminium momentum signal moves from positive to negative value or vice-versa.

Aluminium industry trend

Aluminium trend signal ranges from -100 to +100. Aluminium trend indicator is the mean value of the 8 calculations described below. The timeframes monitored are the following: 1-month (20 trading days), 3-months (60 trading days), 6-months (125 trading days), 1-year (250 trading days)
For each timeframe, the following calculations are performed: 1. Aluminium Closing price vs Aluminium moving average (MA) calculation: If Aluminium is greater than Aluminium MA value is +1, else -1, 2. Aluminium Moving average slope calculation: if current Aluminium moving average is higher than the previous MA, Aluminium upward slope +1, else -1
Aluminium trend model can be used as a trend strength indicator. Aluminium trend strength values ranging between +75 and +100 or -75 and -100 show strong trend strength.
A technical trend rollover is identified when Aluminium trend strength indicator moves from positive to negative value or vice-versa.

The most important trend indicator
The Aluminium 52-week simple moving average and its slope are the most important indicators defining a market’s trend. Aluminium is in an uptrend when Aluminium price is higher than the 52-week moving average and the Aluminium 52-week moving average has an upward slope. If fundamentals of the market have not changed and the moving average slope is still in uptrend, a price drop signifies a market correction and not a change of trend. Traders should watch oscillators like the Aluminium oscillator and Aluminium RSI to buy the dip and still follow the trend. The moving average slope turn signifies a change of trend.

Aluminium industry oscillator

The Aluminium oscillator estimated by MacroVar is the z-score of the currentAluminium price versus Aluminium 1-year simple moving average price. The formula for the Aluminium oscillator is:
Aluminium oscillator = (Current Price – 250 trading days Aluminium simple moving average price) / (250 days Aluminium price standard deviation)

Aluminium oversold conditions
Aluminium is oversold when it is subject to a persistent downward pressure due to extreme fund outflows. When the Aluminium is oversold it is often due for a rebound. Values of the Aluminium oscillator lower than -2.5 signify oversold conditions. It must be noted that the Aluminium oscillator must be analyzed ibn conjunction with the rest ofAluminium quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the Aluminium RSI.
Aluminium overbought conditions
Aluminium is overbought when it is subject to a persistent upward pressure due to extreme fund inflows. When the Aluminium is overbought it is often due for a correction. Values of the Aluminium oscillator higher than +2.5 signify overbought conditions. It must be noted that the MacroVar oscillator must be compared to the rest of the Aluminium quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the RSI.

Aluminium industry RSI indicator

The RSI indicator measures the speed and change of price movements. The RSI indicator oscillates between 0 and 100. RSI is a useful indicator during normal trending market conditions when an asset price oscillates around its trend value. During big moves and strong trends however, like short squeezes or price spikes RSI and other oscillators don’t work.
During normal trend market conditions and when Aluminium is in a downtrend RSI values between 50-60 signify overbought conditions before the downtrend is ready to resume. DuringAluminium uptrend, RSI values of 40 to 50 signify oversold conditions before the uptrend is ready to resume. It is strongly not recommended to enter a position when the RSI is “overbought” and falling or vice versa.

Aluminium industry returns

MacroVar calculates Aluminium returns for the following timeframes: Daily, Weekly, Monthly, Yearly. The formula for calculating returns is:

Aluminium returns = (Aluminium Closing Price – Aluminium Previous Price)/(Aluminium Previous Price)

Aluminium industry

Monitor and predict the growth prospects and potential risks of the Aluminium industry by examining the financial and macroeconomic factors affecting it and the latest Aluminium news tracked by MacroVar. Sign Up Free to get notified instantly on the latest Aluminium updates and get full access to MacroVar advanced analytics of Global Financial Markets, Economies and Financial Risk.

Click to explore the factors and the financial models used by MacroVar to analyze the Aluminium industry trend, growth prospects and risks.

Aluminium industry Markets

Market Symbol Last Mom Trend Exh RSI 1D% 1W% 1M% 1Y%
Aluminium aluminium 281.63 1 1 2.55942 57.9083 0.02118 0.04304 0.05424 1.53744
US Aluminium industry US.ALUMINIUM 281.63 1 1 2.55942 57.9083 0.02118 0.04304 0.05424 1.53744

Aluminium industry News

Aluminium industry Analysis

MacroVar monitors the performance, risk, trend and momentum of the Aluminium industry by examining the stock and credit performance of major Aluminium companies across the US, Europe, Eastern Europe and Asia Pacific. Aluminium Stock performance is monitored by analyzing STOXX equity indices of major Aluminium companies while Aluminium credit performance is monitored by analyzing Markit iBoxx credit indices reflecting the performance of the Aluminium high yield corporate bond market.

MacroVar also monitors fundamental indicators closely linked to the Aluminium sector published monthly including analysis of sector specific PMI indicators, components of Manufacturing & Services PMI and Economic Sentiment Indicators analysis.

MacroVar also monitors other factors closely related to the Aluminium industry like closely related financial markets or macroeconmic indicators.

MacroVar estimates the following signals:: Aluminium momentum, Aluminium trend, Aluminium oscillator, Aluminium RSI and Aluminium returns.

Aluminium industry description

The Aluminum subsector includes companies engaged in the mining and processing of bauxite or manufacturing and distribution aluminum bars, rods and other products for use by other industries. It Excludes manufacturers of finished aluminum products, such as siding, which are categorized according to the type of end product

Aluminium industry Momentum

Momentum is used to capture moves in shorter timeframes than trends. Momentum is the relative change occurring in markets. Relative change is different to a trend. A long-term trend can be up but the short-term momentum of a specific market can be 0. If a market moves down and then moves up and then moves back down the net relative change in price is 0. That means momentum is 0. A short-term positive momentum, with a long-term downtrend results in markets with no momentum.

MacroVar Aluminium momentum signal ranges from -100 to +100. The Aluminium momentum signal is derived as the mean value from 4 calculations for the Aluminium . The timeframes monitored are the following: 1 Day (1 trading day), 1 Week (5 trading days), 1 Month (20 trading days), 3 Months (60 trading days)
For each timeframe, the following calculations are performed: 1. Aluminium return is calculated for the specific timeframe and 2. if the return calculated is higher than 0, signal value output is 1 else signal value is -1. Aluminium momentum signal is the aggregate of the the 4 values. A technical momentum rollover is identified when Aluminium momentum signal moves from positive to negative value or vice-versa.

Aluminium industry trend

Aluminium trend signal ranges from -100 to +100. Aluminium trend indicator is the mean value of the 8 calculations described below. The timeframes monitored are the following: 1-month (20 trading days), 3-months (60 trading days), 6-months (125 trading days), 1-year (250 trading days)
For each timeframe, the following calculations are performed: 1. Aluminium Closing price vs Aluminium moving average (MA) calculation: If Aluminium is greater than Aluminium MA value is +1, else -1, 2. Aluminium Moving average slope calculation: if current Aluminium moving average is higher than the previous MA, Aluminium upward slope +1, else -1
Aluminium trend model can be used as a trend strength indicator. Aluminium trend strength values ranging between +75 and +100 or -75 and -100 show strong trend strength.
A technical trend rollover is identified when Aluminium trend strength indicator moves from positive to negative value or vice-versa.

The most important trend indicator
The Aluminium 52-week simple moving average and its slope are the most important indicators defining a market’s trend. Aluminium is in an uptrend when Aluminium price is higher than the 52-week moving average and the Aluminium 52-week moving average has an upward slope. If fundamentals of the market have not changed and the moving average slope is still in uptrend, a price drop signifies a market correction and not a change of trend. Traders should watch oscillators like the Aluminium oscillator and Aluminium RSI to buy the dip and still follow the trend. The moving average slope turn signifies a change of trend.

Aluminium industry oscillator

The Aluminium oscillator estimated by MacroVar is the z-score of the currentAluminium price versus Aluminium 1-year simple moving average price. The formula for the Aluminium oscillator is:
Aluminium oscillator = (Current Price – 250 trading days Aluminium simple moving average price) / (250 days Aluminium price standard deviation)

Aluminium oversold conditions
Aluminium is oversold when it is subject to a persistent downward pressure due to extreme fund outflows. When the Aluminium is oversold it is often due for a rebound. Values of the Aluminium oscillator lower than -2.5 signify oversold conditions. It must be noted that the Aluminium oscillator must be analyzed ibn conjunction with the rest ofAluminium quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the Aluminium RSI.
Aluminium overbought conditions
Aluminium is overbought when it is subject to a persistent upward pressure due to extreme fund inflows. When the Aluminium is overbought it is often due for a correction. Values of the Aluminium oscillator higher than +2.5 signify overbought conditions. It must be noted that the MacroVar oscillator must be compared to the rest of the Aluminium quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the RSI.

Aluminium industry RSI indicator

The RSI indicator measures the speed and change of price movements. The RSI indicator oscillates between 0 and 100. RSI is a useful indicator during normal trending market conditions when an asset price oscillates around its trend value. During big moves and strong trends however, like short squeezes or price spikes RSI and other oscillators don’t work.
During normal trend market conditions and when Aluminium is in a downtrend RSI values between 50-60 signify overbought conditions before the downtrend is ready to resume. DuringAluminium uptrend, RSI values of 40 to 50 signify oversold conditions before the uptrend is ready to resume. It is strongly not recommended to enter a position when the RSI is “overbought” and falling or vice versa.

Aluminium industry returns

MacroVar calculates Aluminium returns for the following timeframes: Daily, Weekly, Monthly, Yearly. The formula for calculating returns is:

Aluminium returns = (Aluminium Closing Price – Aluminium Previous Price)/(Aluminium Previous Price)

Aluminium industry

Monitor and predict the growth prospects and potential risks of the Aluminium industry by examining the financial and macroeconomic factors affecting it and the latest Aluminium news tracked by MacroVar. Sign Up Free to get notified instantly on the latest Aluminium updates and get full access to MacroVar advanced analytics of Global Financial Markets, Economies and Financial Risk.

Click to explore the factors and the financial models used by MacroVar to analyze the Aluminium industry trend, growth prospects and risks.

Aluminium industry Markets

Market Symbol Last Mom Trend Exh RSI 1D% 1W% 1M% 1Y%
Aluminium aluminium 281.63 1 1 2.55942 57.9083 0.02118 0.04304 0.05424 1.53744
US Aluminium industry US.ALUMINIUM 281.63 1 1 2.55942 57.9083 0.02118 0.04304 0.05424 1.53744

Aluminium industry News

Aluminium industry Analysis

MacroVar monitors the performance, risk, trend and momentum of the Aluminium industry by examining the stock and credit performance of major Aluminium companies across the US, Europe, Eastern Europe and Asia Pacific. Aluminium Stock performance is monitored by analyzing STOXX equity indices of major Aluminium companies while Aluminium credit performance is monitored by analyzing Markit iBoxx credit indices reflecting the performance of the Aluminium high yield corporate bond market.

MacroVar also monitors fundamental indicators closely linked to the Aluminium sector published monthly including analysis of sector specific PMI indicators, components of Manufacturing & Services PMI and Economic Sentiment Indicators analysis.

MacroVar also monitors other factors closely related to the Aluminium industry like closely related financial markets or macroeconmic indicators.

MacroVar estimates the following signals:: Aluminium momentum, Aluminium trend, Aluminium oscillator, Aluminium RSI and Aluminium returns.

Aluminium industry description

The Aluminum subsector includes companies engaged in the mining and processing of bauxite or manufacturing and distribution aluminum bars, rods and other products for use by other industries. It Excludes manufacturers of finished aluminum products, such as siding, which are categorized according to the type of end product

Aluminium industry Momentum

Momentum is used to capture moves in shorter timeframes than trends. Momentum is the relative change occurring in markets. Relative change is different to a trend. A long-term trend can be up but the short-term momentum of a specific market can be 0. If a market moves down and then moves up and then moves back down the net relative change in price is 0. That means momentum is 0. A short-term positive momentum, with a long-term downtrend results in markets with no momentum.

MacroVar Aluminium momentum signal ranges from -100 to +100. The Aluminium momentum signal is derived as the mean value from 4 calculations for the Aluminium . The timeframes monitored are the following: 1 Day (1 trading day), 1 Week (5 trading days), 1 Month (20 trading days), 3 Months (60 trading days)
For each timeframe, the following calculations are performed: 1. Aluminium return is calculated for the specific timeframe and 2. if the return calculated is higher than 0, signal value output is 1 else signal value is -1. Aluminium momentum signal is the aggregate of the the 4 values. A technical momentum rollover is identified when Aluminium momentum signal moves from positive to negative value or vice-versa.

Aluminium industry trend

Aluminium trend signal ranges from -100 to +100. Aluminium trend indicator is the mean value of the 8 calculations described below. The timeframes monitored are the following: 1-month (20 trading days), 3-months (60 trading days), 6-months (125 trading days), 1-year (250 trading days)
For each timeframe, the following calculations are performed: 1. Aluminium Closing price vs Aluminium moving average (MA) calculation: If Aluminium is greater than Aluminium MA value is +1, else -1, 2. Aluminium Moving average slope calculation: if current Aluminium moving average is higher than the previous MA, Aluminium upward slope +1, else -1
Aluminium trend model can be used as a trend strength indicator. Aluminium trend strength values ranging between +75 and +100 or -75 and -100 show strong trend strength.
A technical trend rollover is identified when Aluminium trend strength indicator moves from positive to negative value or vice-versa.

The most important trend indicator
The Aluminium 52-week simple moving average and its slope are the most important indicators defining a market’s trend. Aluminium is in an uptrend when Aluminium price is higher than the 52-week moving average and the Aluminium 52-week moving average has an upward slope. If fundamentals of the market have not changed and the moving average slope is still in uptrend, a price drop signifies a market correction and not a change of trend. Traders should watch oscillators like the Aluminium oscillator and Aluminium RSI to buy the dip and still follow the trend. The moving average slope turn signifies a change of trend.

Aluminium industry oscillator

The Aluminium oscillator estimated by MacroVar is the z-score of the currentAluminium price versus Aluminium 1-year simple moving average price. The formula for the Aluminium oscillator is:
Aluminium oscillator = (Current Price – 250 trading days Aluminium simple moving average price) / (250 days Aluminium price standard deviation)

Aluminium oversold conditions
Aluminium is oversold when it is subject to a persistent downward pressure due to extreme fund outflows. When the Aluminium is oversold it is often due for a rebound. Values of the Aluminium oscillator lower than -2.5 signify oversold conditions. It must be noted that the Aluminium oscillator must be analyzed ibn conjunction with the rest ofAluminium quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the Aluminium RSI.
Aluminium overbought conditions
Aluminium is overbought when it is subject to a persistent upward pressure due to extreme fund inflows. When the Aluminium is overbought it is often due for a correction. Values of the Aluminium oscillator higher than +2.5 signify overbought conditions. It must be noted that the MacroVar oscillator must be compared to the rest of the Aluminium quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the RSI.

Aluminium industry RSI indicator

The RSI indicator measures the speed and change of price movements. The RSI indicator oscillates between 0 and 100. RSI is a useful indicator during normal trending market conditions when an asset price oscillates around its trend value. During big moves and strong trends however, like short squeezes or price spikes RSI and other oscillators don’t work.
During normal trend market conditions and when Aluminium is in a downtrend RSI values between 50-60 signify overbought conditions before the downtrend is ready to resume. DuringAluminium uptrend, RSI values of 40 to 50 signify oversold conditions before the uptrend is ready to resume. It is strongly not recommended to enter a position when the RSI is “overbought” and falling or vice versa.

Aluminium industry returns

MacroVar calculates Aluminium returns for the following timeframes: Daily, Weekly, Monthly, Yearly. The formula for calculating returns is:

Aluminium returns = (Aluminium Closing Price – Aluminium Previous Price)/(Aluminium Previous Price)

Aluminium industry

Monitor and predict the growth prospects and potential risks of the Aluminium industry by examining the financial and macroeconomic factors affecting it and the latest Aluminium news tracked by MacroVar. Sign Up Free to get notified instantly on the latest Aluminium updates and get full access to MacroVar advanced analytics of Global Financial Markets, Economies and Financial Risk.

Click to explore the factors and the financial models used by MacroVar to analyze the Aluminium industry trend, growth prospects and risks.

Aluminium industry Markets

Market Symbol Last Mom Trend Exh RSI 1D% 1W% 1M% 1Y%
Aluminium aluminium 281.63 1 1 2.55942 57.9083 0.02118 0.04304 0.05424 1.53744
US Aluminium industry US.ALUMINIUM 281.63 1 1 2.55942 57.9083 0.02118 0.04304 0.05424 1.53744

Aluminium industry News

Aluminium industry Analysis

MacroVar monitors the performance, risk, trend and momentum of the Aluminium industry by examining the stock and credit performance of major Aluminium companies across the US, Europe, Eastern Europe and Asia Pacific. Aluminium Stock performance is monitored by analyzing STOXX equity indices of major Aluminium companies while Aluminium credit performance is monitored by analyzing Markit iBoxx credit indices reflecting the performance of the Aluminium high yield corporate bond market.

MacroVar also monitors fundamental indicators closely linked to the Aluminium sector published monthly including analysis of sector specific PMI indicators, components of Manufacturing & Services PMI and Economic Sentiment Indicators analysis.

MacroVar also monitors other factors closely related to the Aluminium industry like closely related financial markets or macroeconmic indicators.

MacroVar estimates the following signals:: Aluminium momentum, Aluminium trend, Aluminium oscillator, Aluminium RSI and Aluminium returns.

Aluminium industry description

The Aluminum subsector includes companies engaged in the mining and processing of bauxite or manufacturing and distribution aluminum bars, rods and other products for use by other industries. It Excludes manufacturers of finished aluminum products, such as siding, which are categorized according to the type of end product

Aluminium industry Momentum

Momentum is used to capture moves in shorter timeframes than trends. Momentum is the relative change occurring in markets. Relative change is different to a trend. A long-term trend can be up but the short-term momentum of a specific market can be 0. If a market moves down and then moves up and then moves back down the net relative change in price is 0. That means momentum is 0. A short-term positive momentum, with a long-term downtrend results in markets with no momentum.

MacroVar Aluminium momentum signal ranges from -100 to +100. The Aluminium momentum signal is derived as the mean value from 4 calculations for the Aluminium . The timeframes monitored are the following: 1 Day (1 trading day), 1 Week (5 trading days), 1 Month (20 trading days), 3 Months (60 trading days)
For each timeframe, the following calculations are performed: 1. Aluminium return is calculated for the specific timeframe and 2. if the return calculated is higher than 0, signal value output is 1 else signal value is -1. Aluminium momentum signal is the aggregate of the the 4 values. A technical momentum rollover is identified when Aluminium momentum signal moves from positive to negative value or vice-versa.

Aluminium industry trend

Aluminium trend signal ranges from -100 to +100. Aluminium trend indicator is the mean value of the 8 calculations described below. The timeframes monitored are the following: 1-month (20 trading days), 3-months (60 trading days), 6-months (125 trading days), 1-year (250 trading days)
For each timeframe, the following calculations are performed: 1. Aluminium Closing price vs Aluminium moving average (MA) calculation: If Aluminium is greater than Aluminium MA value is +1, else -1, 2. Aluminium Moving average slope calculation: if current Aluminium moving average is higher than the previous MA, Aluminium upward slope +1, else -1
Aluminium trend model can be used as a trend strength indicator. Aluminium trend strength values ranging between +75 and +100 or -75 and -100 show strong trend strength.
A technical trend rollover is identified when Aluminium trend strength indicator moves from positive to negative value or vice-versa.

The most important trend indicator
The Aluminium 52-week simple moving average and its slope are the most important indicators defining a market’s trend. Aluminium is in an uptrend when Aluminium price is higher than the 52-week moving average and the Aluminium 52-week moving average has an upward slope. If fundamentals of the market have not changed and the moving average slope is still in uptrend, a price drop signifies a market correction and not a change of trend. Traders should watch oscillators like the Aluminium oscillator and Aluminium RSI to buy the dip and still follow the trend. The moving average slope turn signifies a change of trend.

Aluminium industry oscillator

The Aluminium oscillator estimated by MacroVar is the z-score of the currentAluminium price versus Aluminium 1-year simple moving average price. The formula for the Aluminium oscillator is:
Aluminium oscillator = (Current Price – 250 trading days Aluminium simple moving average price) / (250 days Aluminium price standard deviation)

Aluminium oversold conditions
Aluminium is oversold when it is subject to a persistent downward pressure due to extreme fund outflows. When the Aluminium is oversold it is often due for a rebound. Values of the Aluminium oscillator lower than -2.5 signify oversold conditions. It must be noted that the Aluminium oscillator must be analyzed ibn conjunction with the rest ofAluminium quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the Aluminium RSI.
Aluminium overbought conditions
Aluminium is overbought when it is subject to a persistent upward pressure due to extreme fund inflows. When the Aluminium is overbought it is often due for a correction. Values of the Aluminium oscillator higher than +2.5 signify overbought conditions. It must be noted that the MacroVar oscillator must be compared to the rest of the Aluminium quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the RSI.

Aluminium industry RSI indicator

The RSI indicator measures the speed and change of price movements. The RSI indicator oscillates between 0 and 100. RSI is a useful indicator during normal trending market conditions when an asset price oscillates around its trend value. During big moves and strong trends however, like short squeezes or price spikes RSI and other oscillators don’t work.
During normal trend market conditions and when Aluminium is in a downtrend RSI values between 50-60 signify overbought conditions before the downtrend is ready to resume. DuringAluminium uptrend, RSI values of 40 to 50 signify oversold conditions before the uptrend is ready to resume. It is strongly not recommended to enter a position when the RSI is “overbought” and falling or vice versa.

Aluminium industry returns

MacroVar calculates Aluminium returns for the following timeframes: Daily, Weekly, Monthly, Yearly. The formula for calculating returns is:

Aluminium returns = (Aluminium Closing Price – Aluminium Previous Price)/(Aluminium Previous Price)