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Friday, December 2, 2022

LME aluminium may fall towards $2,073 this week

SINGAPORE: LME aluminium may break support at $2,150 a tonne this week and fall towards the next support of $2,073.

The bounce triggered by that support at $2,073 has completed around a resistance at $2,360, after the metal failed twice to overcome this barrier.

A wave C from $3,742 has resumed.

China Sept aluminium output rises 9.3% y/y as power restrictions ease

It is expected to travel towards $1,708. A realistic target is $2,073, a break below which could confirm a lower target of $1,909.

LME aluminium may fall towards ,073 this week

Source: Brecorder

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