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LME aluminium may test support at $1,784 this week
- The resistance is identified as the 123.6pc projection level of an upward wave C from $1,562.
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SINGAPORE: LME aluminium may test a resistance at $1,784 per tonne this week, a break above which could open the way towards $1,811.
The resistance is identified as the 123.6pc projection level of an upward wave C from $1,562.
The correction triggered by this resistance seems to have ended around a support at $1,742.
A break below $1,742 could cause a fall into $1,718-$1,729 range.
The analysis is published once a week on Monday.