13 MAY 2014Business Recorder
LME aluminium to rebound to $1,787
Edited by : AL CIRCLE
1 min read
LME aluminium may rebound to $1,787 per tonne as it has found a support at $1,760.
The support is provided by the 61.8 percent Fibonacci retracement on the rise from the Feb. 3 low of $1,671.25 to the April 11 high of $1,902.50.
It has triggered a rebound towards the 50 percent retracement at $1,787. A break below this support may cause a limited loss to $1,751, the 76.4 percent Fibonacci retracement on the rise from the March 19 low of $1,704.25 to $1,902.50.
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.
The support is provided by the 61.8 percent Fibonacci retracement on the rise from the Feb. 3 low of $1,671.25 to the April 11 high of $1,902.50.
It has triggered a rebound towards the 50 percent retracement at $1,787. A break below this support may cause a limited loss to $1,751, the 76.4 percent Fibonacci retracement on the rise from the March 19 low of $1,704.25 to $1,902.50.
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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