Markets
LME aluminium target $2,339/T aborted
SINGAPORE : A bearish target at $2,339 per tonne has been temporarily aborted for LME aluminium as a rebound that starte
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A relabeling of its wave pattern indicates the metal is riding on an upward wave "c", as part of an irregular flat pattern, progressing towards $2,415, the 161.8 percent Fibonacci projection level, based on the length of the wave "a".
A fall to $2,380 will neutralize the signals.
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Copyright Reuters, 2011