11 APRIL 2014Business Recorder
LME aluminium to peak in $1,866-$1,885 range
Edited by : AL CIRCLE
1 min read
LME aluminium is expected to peak in a range of $1,866-$1,885 per tonne, as indicated by its wave pattern and a Fibonacci projection analysis. The metal is riding on the final wave of a five-wave cycle rising from the March 19 low of $1,704.25.
These five waves have made up a bigger wave c, which may end in a range formed by its 123.6 percent and the 138.2 percent Fibonacci projection levels.
Given that the third wave of the cycle, the wave 3, has much extended, the chance of an extended fifth wave will be slim. Putting in other words, the wave 5 will not travel to the 161.8 percent projection level at $1,915.
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.
These five waves have made up a bigger wave c, which may end in a range formed by its 123.6 percent and the 138.2 percent Fibonacci projection levels.
Given that the third wave of the cycle, the wave 3, has much extended, the chance of an extended fifth wave will be slim. Putting in other words, the wave 5 will not travel to the 161.8 percent projection level at $1,915.
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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