Markets
LME aluminium may retest resistance at $2,603 this week
- Support is at $2,509, a break below which could cause a fall into $2,405-$2,451 range
1 min
By
SINGAPORE: LME aluminium may retest a resistance at $2,603 per tonne this week, a break above which could lead to a gain into $2,674-$2,731 range.
A triangle has been confirmed as a bullish continuation pattern, suggesting a target around $2,700. The metal is riding on a wave (5), which is capable of travelling far above $2,603.
Support is at $2,509, a break below which could cause a fall into $2,405-$2,451 range.
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.