SINGAPORE: LME aluminium could fall into $2,360-$2,562 range this week, as it has broken a support at $2,888 per tonne.
The metal is riding on a fierce wave c, which has extended below its 100% projection level of $2,888.
Chances are this wave could travel to $2,360.
Concerns about demand push aluminium to 4-month low
A realistic target could be $2,562. A break above $2,888, now a resistance, may lead to a gain into $3,004-$3,090 range.
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