Markets
LME aluminium neutral in $2,345-$2,397 range
SINGAPORE : LME aluminium is neutral in a range of $2,345-$2,397 per tonne and an escape is needed to evaluate its next
By
SINGAPORE: LME aluminium is neutral in a range of $2,345-$2,397 per tonne and an escape is needed to evaluate its next direction.
A rise above $2,397 will confirm a bottom that formed around $2,330, pointing to an immediate target at $2,438, a presumed wave "B" peak.
While a fall below $2,345 will be very bearish, as that could signal the resumption of a short-term downtrend that started from the Sept. 1 high of $2,476, with a target as low as $2,267.
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.
Copyright Reuters, 2011
More Stories
Comments
Comments are closed for this article.