16 SEPTEMBER 2011Business Recorder
LME aluminium neutral in $2,345-$2,397 range
Edited by : AL CIRCLE
1 min read
LME aluminium is neutral in a range of $2,345-$2,397 per tonne and an escape is needed to evaluate its next direction.
A rise above $2,397 will confirm a bottom that formed around $2,330, pointing to an immediate target at $2,438, a presumed wave "B" peak.
While a fall below $2,345 will be very bearish, as that could signal the resumption of a short-term downtrend that started from the Sept. 1 high of $2,476, with a target as low as $2,267.
A rise above $2,397 will confirm a bottom that formed around $2,330, pointing to an immediate target at $2,438, a presumed wave "B" peak.
While a fall below $2,345 will be very bearish, as that could signal the resumption of a short-term downtrend that started from the Sept. 1 high of $2,476, with a target as low as $2,267.
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