Business Recorder
LME aluminium to drop towards $2,130/T
Edited by : AL CIRCLE
1 min read
A bearish target at $2,130 per tonne has been established for LME aluminum as it has resumed a long-term downtrend.
A preceding wave (4) rebound that started at the Oct. 3 low of $2,130 has completed, briefly piecing above $2,248, the 38.2 percent level, but narrowly missing the 50 percent level at $2,284.
A moderate fall on Tuesday may only be able to reach $2,160, a level around the middle point between $2,130 and $2,200.
A preceding wave (4) rebound that started at the Oct. 3 low of $2,130 has completed, briefly piecing above $2,248, the 38.2 percent level, but narrowly missing the 50 percent level at $2,284.
A moderate fall on Tuesday may only be able to reach $2,160, a level around the middle point between $2,130 and $2,200.
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