27 NOVEMBER 2013Business Recorder
Aluminium to fall to $1,760 before reversing downtrend
Edited by : AL CIRCLE
1 min read
LME aluminium may develop the final drop to $1,760 per tonne, before reversing its downtrend, as indicated by its wave pattern and two trendlines.
Wave pattern shows that the metal is riding on the final wave of a five-wave cycle, and this wave could be ending around $1,760, as indicated by the bullish divergence on the hourly RSI and the lower trendline.
A bullish reversal of the downtrend will be confirmed when aluminium surges above $1,785, as the long upper trendline will be broken.
The views expressed are his own.
No information in this analysis should be considered as being business, financial or legal advice.
Each reader should consult his or her own professional or other advisers for business, financial or legal advice regarding the products mentioned in the analyses.
Wave pattern shows that the metal is riding on the final wave of a five-wave cycle, and this wave could be ending around $1,760, as indicated by the bullish divergence on the hourly RSI and the lower trendline.
A bullish reversal of the downtrend will be confirmed when aluminium surges above $1,785, as the long upper trendline will be broken.
The views expressed are his own.
No information in this analysis should be considered as being business, financial or legal advice.
Each reader should consult his or her own professional or other advisers for business, financial or legal advice regarding the products mentioned in the analyses.
Previous article
European aluminium market faces 2014 tightness as premium arbitrages come into focus
Next articleStudy sheds light on the potential use of aluminum to maintain and repair bridges in Québec
Grow with
AL Circle
