Business Recorder
LME aluminium might rebound to $2,030
Edited by : AL CIRCLE
1 min read
LME aluminium would rebound to $2,030 per tonne, as it has come to a support at $2,004.
The support is provided by the 100 percent Fibonacci projection level of a downward wave C.
The completion of a five-wave cycle around this level also significantly increases the chance of a rebound to $2,030, the 38.2 percent Fibonacci retracement on the fall from $2089 to $1,993.
A dip to $1,970 will signal the extension of the wave C towards $1,952, its 138.2 percent projection level.
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 is provided by the 100 percent Fibonacci projection level of a downward wave C.
The completion of a five-wave cycle around this level also significantly increases the chance of a rebound to $2,030, the 38.2 percent Fibonacci retracement on the fall from $2089 to $1,993.
A dip to $1,970 will signal the extension of the wave C towards $1,952, its 138.2 percent projection level.
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
Alcoa Inc. 3rd Q earnings surpass analyst forecasts
Next articleDUBAL's “Beat the Heat and Be Safe” programme proves sucessful
Grow with
AL Circle
