Business Recorder
LME aluminium expected to fall to $2,004
Edited by : AL CIRCLE
1 min read
LME aluminium is expected to fall more to $2,004 per tonne, as it has broken below a support at $2,056.
The support sits on the 61.8 percent Fibonacci projection level of a downward wave C, which is unfolding towards its 100 percent projection level at $2,004. The lower channel line of a falling channel points to the same target.
A sudden surge above the former support of $2,056, now a resistance, would make the signals neutral.
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.
The support sits on the 61.8 percent Fibonacci projection level of a downward wave C, which is unfolding towards its 100 percent projection level at $2,004. The lower channel line of a falling channel points to the same target.
A sudden surge above the former support of $2,056, now a resistance, would make the signals neutral.
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.
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