LME aluminium may rise into $1,503-$1,533 range this week

• The support is identified as the 200pc projection level of a downward wave C from $1,866.
• The hammer on April 8 and the white candlestick on April 9 make up a bullish reversal signal.

SINGAPORE: LME aluminium may rise into a range of $1,503-$1,533 per tonne this week, as it has found a support at $1,454.

The support is identified as the 200pc projection level of a downward wave C from $1,866.

The hammer on April 8 and the white candlestick on April 9 make up a bullish reversal signal.

The bullish divergence on the RSI confirms this signal.

A break below $1,454 could cause a fall to $1,424.