LME aluminium may drop to 2,300 this week

SINGAPORE: LME aluminium may drop to 2,300 per tonne this week, driven by a wave (4).

This wave consists of three smaller waves. The third wave, the wave c, looks too short to complete. It may travel to $2,300 where the wave a stopped.

A break above $2,405 may signal the completion of the wave (4).

A bullish target zone of $2,451 to $2,509 will be established accordingly.

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.