SINGAPORE: LME aluminium may test a support at $3,214 per tonne this week, a break below which could cause a fall to $3,090.
The metal is riding on a wave c from $3,742, which is expected to either end around $3,214 or extend to $2,888, respectively its 61.8% and 100% projection levels.
Shanghai aluminium falls for fourth day as demand concerns weigh
Resistance is at $3,416, a break above which could lead to a gain to $3,540.
Source: Brecorder
