08 OCTOBER 2012Business Recorder
LME aluminium targets $2,161
Edited by : AL CIRCLE
1 min read
LME aluminium would rise to $2,161 per tonne, driven by a wave (3).
The rise on Thursday has reversed the fall from the Tuesday high of $2,140 to such an extent that there is a remote chance of the fall to resume and the waves on the hourly chart have to be relabelled, with the rise classified as a part of a wave (3).
A Fibonacci projection on the wave (3) target points to $2,161, its 100 percent level. Strategically, this target will be confirmed when aluminium climbs above $2,130.
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 rise on Thursday has reversed the fall from the Tuesday high of $2,140 to such an extent that there is a remote chance of the fall to resume and the waves on the hourly chart have to be relabelled, with the rise classified as a part of a wave (3).
A Fibonacci projection on the wave (3) target points to $2,161, its 100 percent level. Strategically, this target will be confirmed when aluminium climbs above $2,130.
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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