Thursday, 12 November 2015 13:47
SINGAPORE: Signals are mixed for LME aluminium and will become clear when the metal gets out of a range of $ 1,488-$ 1,532 per tonne.
The range is formed by the 138.2 percent and the 100 percent Fibonacci projection levels of a downtrend from the Oct. 9 high of $ 1,646.
A fall below $ 1,488 could be extended to $ 1,462, the 161.8 percent level, while a rise above $ 1,532 could signal the extension of the bounce from the Oct. 28 low of $ 1,460 towards the zone of $ 1,548-$ 1,559, formed by the 86.4 percent and the 76.4 percent levels.
