SINGAPORE: LME aluminium may test a support at $1,767 per tonne this week, a break below which could cause a loss to $1,710.
The support is provided by the 38.2pc projection level of a downward wave C from $1,951.
This wave has a minimum target at $1,767 and a maximum target at $1,470.
The bounce from the May 9 low at $1,784 has been almost reversed.
The reversal signals a continuation of the wave C. A bounce may be limited to $1,837.
The analysis is published once a week on Monday.
Charts are not available in reports received in email box through "Alert". To get charts, use the news code of TECH/C to retrieve the original reports.
Wang Tao is a Reuters market analyst for commodities and energy technicals.
The views expressed are his own.
No information in this analysis should be considered as being business, financial or legal advice.
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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