Steelguru
LME aluminium bearish target of USD 2295 per tonne unchanged
Edited by : AL CIRCLE
1 min read
A bearish target at USD 2,295 per tonne is unchanged for LME aluminium as a downward wave C is unfolding. This wave is expected to travel the same length as the wave A, to eventually arrive at USD 2,261, a 100% Fibonacci projection level, while a realistic target for Wednesday is USD 2,295, the 76.4% level.
It will not be a surprise if the metal reaches USD 2,261 on Wednesday as the current bearish momentum is very strong.
It will not be a surprise if the metal reaches USD 2,261 on Wednesday as the current bearish momentum is very strong.
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