BUSINESS RECORDER
Aluminium neutral in $2,096.25-$2,170 range
Edited by : AL CIRCLE
1 min read
LME aluminum has turned neutral as it returned into a range of $2,096.25-$2,170 per tonne.
The metal refused to fall below a key support at $2,096.25, indicating that a big upward wave ""C"" could develop.
But so long as the contract stays below $2,170, the upward wave ""C"" will not be confirmed.
The bias is still at the downside, as a fall from the Nov. 9 high of $2,170 has adopted a five-wave mode on the hourly chart.
The metal refused to fall below a key support at $2,096.25, indicating that a big upward wave ""C"" could develop.
But so long as the contract stays below $2,170, the upward wave ""C"" will not be confirmed.
The bias is still at the downside, as a fall from the Nov. 9 high of $2,170 has adopted a five-wave mode on the hourly chart.
Previous article
Aluminium industry challenges in focus
Next articleChina Exports Of Unwrought Aluminium Grow On A Monthly Basis
Grow with
AL Circle
