04 DECEMBER 2013Business Recorder
LME aluminium may start rebound around support at $1,732
Edited by : AL CIRCLE
1 min read
LME aluminium is approaching support at $1,732 per tonne and may start a rebound from around this level. Support is provided by the 100 percent Fibonacci projection level of a downward wave C and is blocking the way towards the 123.6 percent projection level at $1,691.
There has not been any decent rebound against the wave C, as a result, a rebound may be triggered around $1,732. But a drop to $1,725 may signal a break below support at $1,732.
Note: There will be no reports from Dec. 5 to Dec. 20. Reports will resume on Dec. 23.
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.
There has not been any decent rebound against the wave C, as a result, a rebound may be triggered around $1,732. But a drop to $1,725 may signal a break below support at $1,732.
Note: There will be no reports from Dec. 5 to Dec. 20. Reports will resume on Dec. 23.
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.
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