Aluminium neutral in $2,096.25-$2,170 range

SINGAPORE: LME aluminum has turned neutral as it returned into a range of $2,096.25-$2,170 per tonne.

The metal refused to fall below a key support at $2,096.25, indicating that a big upward wave "C" could develop.

But so long as the contract stays below $2,170, the upward wave "C" will not be confirmed.

The bias is still at the downside, as a fall from the Nov. 9 high of $2,170 has adopted a five-wave mode on the hourly chart.

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