08 JANUARY 2014Business Recorder
LME aluminium to rise to $1,803
Edited by : AL CIRCLE
1 min read
LME aluminium is expected to rise to $1,803 per tonne, as indicated by a falling channel and a Fibonacci projection analysis.
The metal has risen into the falling channel, which has been duplicated from a lower channel.
The upper channel line of the duplicated channel points a target at $1,803, the 38.2 percent Fibonacci projection level of a wave c.
An immediate resistance is at $1,792, the 61.8 percent projection level, which may be broken easily. A correction from the current level may be limited to $1,775, the 100 percent projection level.
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 metal has risen into the falling channel, which has been duplicated from a lower channel.
The upper channel line of the duplicated channel points a target at $1,803, the 38.2 percent Fibonacci projection level of a wave c.
An immediate resistance is at $1,792, the 61.8 percent projection level, which may be broken easily. A correction from the current level may be limited to $1,775, the 100 percent projection level.
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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