LME aluminium may test support at $2,793 this week

SINGAPORE: LME aluminium may test a support at $2,793 per tonne this week, and a break could open the way towards $2,733-$2,766 range.

The correction triggered by the resistance at $2,853 consists of three waves.

So far, only two have completed. The third wave labelled c is unfolding. This wave is expected to travel into $2,733-$2,766 range.

A break above $2,832 could lead to a gain into $2,853-$2,873 range.

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