SINGAPORE: LME aluminium may break a support at $2,236 per tonne this week, and fall to $2,201, as it is unable to break a resistance at $2,292.
It is the second time the metal failed to overcome this barrier.
Even though it is too early to conclude that a double-top is forming, there is a good reason to believe that aluminium could be consolidating within the range of $2,201-$2,292.
A break above $2,292 could lead to a gain to $2,327.
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.
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