Business Recorder
LME aluminium to rise to $2,205/T
Edited by : AL CIRCLE
1 min read
SINGAPORE: LME aluminum will rise to $2,205 per tonne as it's riding on a powerful wave "c".
This wave is the second upward leg of a rebound that started from the Oct. 20 low of $2,077.75, and may eventually travel to $2,314, a 100 percent Fibonacci projection level, based on the length of the wave "a" and the trough of the wave "b" at $2,096.
A more realistic target could be $2,205, the 50 percent projection level.
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.
This wave is the second upward leg of a rebound that started from the Oct. 20 low of $2,077.75, and may eventually travel to $2,314, a 100 percent Fibonacci projection level, based on the length of the wave "a" and the trough of the wave "b" at $2,096.
A more realistic target could be $2,205, the 50 percent projection level.
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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