30 APRIL 2014http://www.brecorder.com
LME aluminium to drop to $1,814
Edited by : AL CIRCLE
1 min read
LME aluminium is expected drop to $1,814 per tonne, as it has cleared support at $1,848.
This support is provided by the 23.6 percent Fibonacci retracement on the rise from the Feb. 3 low of $1,671.25 to the April 11 high of $1,902.50.
The next support will be at $1,814, the 38.2 percent level, a break below which will lead to a further loss to $1,787, the 50 percent level. Rebound from the current level could be limited to $1,848.
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.
This support is provided by the 23.6 percent Fibonacci retracement on the rise from the Feb. 3 low of $1,671.25 to the April 11 high of $1,902.50.
The next support will be at $1,814, the 38.2 percent level, a break below which will lead to a further loss to $1,787, the 50 percent level. Rebound from the current level could be limited to $1,848.
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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