Holding pattern for now Aluminium price slipped lower again last week amid poor sentiment, particularly on the demand side. But with its technical indicators suggesting that the aluminium price has become oversold, we envisage short-term rebound momentum to emerge. Follow-through buying pressure on Monday morning is a positive development, but the light metal needs to hold on to the...
Base metals seem to be in something of a holding pattern, waiting for more details from US-China trade talks before making their next directional move. Given the likelihood of a positive conclusion, stronger demand-related signals from China, and tight underlying supply-demand balances, we maintain that the mostly likely next move will be to the upside.
Aluminium: Becoming oversold
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