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Aluminium LME daily forecast – 15 April 2013
Edited by : AL CIRCLE
1 min read
Aluminium broke support at 1887/86 & although we did expect lower prices the break of 1862 lows so quickly was a surprise. There is no sign of a bounce at this stage so continued weakness could take us as far as 1847/44 then 1837/36. It is not worth fighting this down trend so we cannot rule out a test of 2010 & 2012 lows, perhaps as soon as this week, at 1830/27.
Resistance is seen at 1868/70 but a push higher could take us to 1883/87. Look for a top here but any shorts need a stop above 1895.
Resistance is seen at 1868/70 but a push higher could take us to 1883/87. Look for a top here but any shorts need a stop above 1895.
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