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LME Aluminium to fall to $1,989/T
SINGAPORE : LME Aluminium will fall to the Nov. 25 low of $1,989 per tonne, as a wave (3)-4 rebound has completed.
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SINGAPORE: LME Aluminium will fall to the Nov. 25 low of $1,989 per tonne, as a wave (3)-4 rebound has completed.
The rebound was weak, as it failed a resistance at $2,043, the 38.2 percent Fibonacci retracement on the fall from $2,130 to $1,990, confirming a preceding downtrend is steady.
A rise above $2,043 will be limited to $2,060, the 50 percent Fibonacci retracement.
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.
Copyright Reuters, 2011
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