27 FEBRUARY 2014Business Recorder
LME aluminium to fall to $1,743
Edited by : AL CIRCLE
1 min read
LME aluminium is expected to fall to $1,743 per tonne, driven by a downward wave c. This is the third wave of a flat which started at the Feb. 19 high of $1,788.
It could be roughly equal to the preceding two waves in length, ending around $1,743, the 38.2 percent Fibonacci retracement on the rise from the Feb. 3 low of $1,671.25 to $1,788.
Signals will turn neutral should aluminium climb above $1,780, however, only a further gain above $1,788 could confirm the continuation of the uptrend.
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.
It could be roughly equal to the preceding two waves in length, ending around $1,743, the 38.2 percent Fibonacci retracement on the rise from the Feb. 3 low of $1,671.25 to $1,788.
Signals will turn neutral should aluminium climb above $1,780, however, only a further gain above $1,788 could confirm the continuation of the uptrend.
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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