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Markets

LME aluminium may rise into $2,674-$2,731 range this week

  • A projection analysis on the trend suggests a target of $2,674, as the metal has broken a resistance at $2,581
02 Aug 2021

SINGAPORE: LME aluminium may rise into a range of $2,674 to $2,731 per tonne this week, driven by a wave (5)-3.

This wave has travelled above the peak of the wave (5)-1, which is the July 5 high of $2,581.50. The uptrend from $1,945 has been confirmed.

A projection analysis on the trend suggests a target of $2,674, as the metal has broken a resistance at $2,581.

China 2020 aluminium output roars to annual record high

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