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SINGAPORE: LME aluminium may fall into a range of $2,237-$2,286 a tonne this week, as a bounce from the Sept. 28-low of $2,080.50 has completed.
The bounce consists of three waves.
The wave c could be well divided into five smaller waves.
Such a structure, along with a break below a rising trendline, suggests a completion of the wave c.
LME aluminium to test support at $2,236 this week
The metal may fall towards the bottom of the wave b at $2,156.50 this week.
A break above $2,450 may lead to a gain into the $2,496-$2,576 range.
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