Business Recorder
LME aluminium to fall to $2,050/T
Edited by : AL CIRCLE
1 min read
LME aluminum will fall to $2,050 per tonne, as a rebound from the December 2011 low of $1,955.75 has completed.
The rebound has adopted an "a-b-c" corrective wave mode, with the wave "c" having roughly travelled 161.8 percent the length of the wave "a", as indicated by a Fibonacci projection analysis.
The metal bounced off the upper channel line of a rising channel and will find a support at the lower channel line which is about $2,050.
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 rebound has adopted an "a-b-c" corrective wave mode, with the wave "c" having roughly travelled 161.8 percent the length of the wave "a", as indicated by a Fibonacci projection analysis.
The metal bounced off the upper channel line of a rising channel and will find a support at the lower channel line which is about $2,050.
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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