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LME Aluminum to fall to USD 1989 per tonne
Edited by : AL CIRCLE
1 min read
BR reported that LME Aluminum will fall to the November 25 low of USD 1,989 per tonne as a wave (3)-4 rebound has completed.
The rebound was weak, as it failed a resistance at USD 2,043, the 38.2% Fibonacci retracement on the fall from USD 2,130 to USD 1,990 confirming a preceding downtrend is steady. A rise above USD 2,043 will be limited to USD 2,060, the 50% Fibonacci retracement.
The rebound was weak, as it failed a resistance at USD 2,043, the 38.2% Fibonacci retracement on the fall from USD 2,130 to USD 1,990 confirming a preceding downtrend is steady. A rise above USD 2,043 will be limited to USD 2,060, the 50% Fibonacci retracement.
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