LME aluminium to fall to $2,186/T

SINGAPORE: LME aluminium will drop more to $2,186 per tonne, as the retracement from the Jan. 31 high of $2,310 has not completed.

The fall has adopted a three-wave mode, with the current wave "c" expected to at least travel to $2,186, the 61.8 percent Fibonacci projection level.

A break below $2,186 will open the way towards $2,141, the 100 percent level.

Resistance is at $2,259.75, a rise above which will neutralize the signals.

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