SINGAPORE: LME aluminum is biased to gain more to $2,037 per tonne, as it is poised to rise above a range of $1,962.25 - $2,020.50.
The metal is riding on an upward wave "c", progressing towards $2,037, the 100 percent Fibonacci projection level.
A rise to $2,037 will confirm a triple-bottom, with a bullish target to be established at $2,079. A a fall to $2,005 will indicate the test at the high of the range at $2,020.50 is unsuccessful, and signals will turn neutral.
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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