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SINGAPORE: Signals are mixed for LME aluminum as it is rangebound between $2,027.75-$2,087 per tonne.
A rise above the range will confirm the continuation of wave (c) within a rising channel towards $2,107, which is pointed by the upper channel line and indicated by a Fibonacci projection analysis.
A fall below $2,027.75 will confirm the completion of the rebound from the December 2011 low of $1,955.75, and a bearish target at $1,980.50 will be established.
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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