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LME aluminium may retest support at $1,492 this week
A small wave 4 has just completed, which will be reversed by a downward wave 5.
Resistance is at $1,532, a bre
- A small wave 4 has just completed, which will be reversed by a downward wave 5.
- Resistance is at $1,532, a break above which could lead confirm both a double-bottom forming around $1,457 and a bullish target of $1,606.
SINGAPORE: LME aluminium may retest a support at $1,492 per tonne, a break below could cause a fall into $1,457-$1,477 range.
The support is provided by the 176.4pc projection level of a wave (3) from $1,755.
This wave consists of many smaller waves.
A small wave 4 has just completed, which will be reversed by a downward wave 5.
Resistance is at $1,532, a break above which could lead confirm both a double-bottom forming around $1,457 and a bullish target of $1,606.
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