Business Recorder
LME aluminium to gain more to $2,280/T
Edited by : AL CIRCLE
1 min read
A rebound from the Sept. 26 low of $2,155 has not completed, and LME aluminium will gain more to $2,280 per tonne.
The metal failed to fall below $2,155 during the previous trading session, instead rebounding sharply after touching $2,184, signaling an "a-b-c" corrective cycle has extended, with the wave "c" progressing towards $2,280, as pointed to by an upper channel line of a rising channel.
Only a fall below pivotal support at $2,184 would confirm a preceding downtrend has resumed.
The metal failed to fall below $2,155 during the previous trading session, instead rebounding sharply after touching $2,184, signaling an "a-b-c" corrective cycle has extended, with the wave "c" progressing towards $2,280, as pointed to by an upper channel line of a rising channel.
Only a fall below pivotal support at $2,184 would confirm a preceding downtrend has resumed.
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