LME aluminium to fall to $2,208/T

SINGAPORE: LME aluminum will fall to the Oct. 27 low of $2,208 per tonne as a rebound from the Oct. 20 low of $2,077.75 could have completed around a resistance at $2,277 per tonne.

The resistance is the 50 percent Fibonacci retracement on the fall from $2,476 to $2,077.75, and has served as an ultimate high the current rebound could reach.

Resistance is at $2,266, a rise above which will violate the bearish outlook.

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