Markets
LME aluminium may retest resistance at $2,626 this week
- Support is at $2,536, a break below which could cause a fall into $2,431-$2,495 range
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SINGAPORE: LME aluminium may retest a resistance at $2,626 per tonne this week, driven by a wave (5)-3.
This wave is expected to be longer than the preceding wave (5)-1, to extend into a range of $2,674-$2,731, as pointed by a short rising trendline.
Support is at $2,536, a break below which could cause a fall into $2,431-$2,495 range.
Some Japanese buyers agree Q2 aluminium premium at $148-$149/T
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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