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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

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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