14 FEBRUARY 2013Business Recorder
LME aluminium to consolidate in $2,139-$2,153 range
Edited by : AL CIRCLE
1 min read
LME aluminium faces a resistance at $2,153 per tonne, and may consolidate in $2,139-$2,153 range for half or one session before gaining more to $2,169.
The resistance is established by the 61.8 percent Fibonacci projection level of an upward wave c which started at the Feb. 7 low of $2,082 and is capable of travelling to $2,196, its 100 percent projection level.
Strengthening the resistance is another one at $2,147.25, the wave a peak.
The two resistances have formed a resistance zone, which will temporarily stop aluminium from climbing towards the 76.4 percent projection level at $2,169.
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 resistance is established by the 61.8 percent Fibonacci projection level of an upward wave c which started at the Feb. 7 low of $2,082 and is capable of travelling to $2,196, its 100 percent projection level.
Strengthening the resistance is another one at $2,147.25, the wave a peak.
The two resistances have formed a resistance zone, which will temporarily stop aluminium from climbing towards the 76.4 percent projection level at $2,169.
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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