Markets
LME Aluminium due for a correction
SINGAPORE: LME aluminium looks shaky at current levels and is due for a correction.
The rise from an hourly chart low a
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SINGAPORE: LME aluminium looks shaky at current levels and is due for a correction.
The rise from an hourly chart low at $2,203 per tonne hit on Jan. 23 has become disordered, indicating a wave "5" could be ending.
The bearish divergence on the RSI indicator continues to build up, suggesting the bullish momentum has dissipated and bulls are struggling to maintain the current high price.
A rise above $2,291 may be capped at $2,310.
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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