BUSINESS RECORDER
Aluminium to fall further, to $2,097/T
Edited by : AL CIRCLE
1 min read
LME aluminum will fall to $2,097 per tonne, a low touched on Nov. 10, as pointed by the lower channel line of a falling channel.
There are two small five-wave cycles on the fall from the Nov. 14 high of $2,197, indicating the metal is riding on a powerful wave (3) which will become a key driver in the formation of a medium-term downtrend.
Resistance is at $2,152, a break above which will invalidate the bearish target.
There are two small five-wave cycles on the fall from the Nov. 14 high of $2,197, indicating the metal is riding on a powerful wave (3) which will become a key driver in the formation of a medium-term downtrend.
Resistance is at $2,152, a break above which will invalidate the bearish target.
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