Aluminium ...
LME aluminium prices continue to consolidate above the August 15 low at $2,007 per tonne. Momentum indicators reflect the neutral price action; the stochastics have converged in mid-ground and the RSI at 45 remains neutral overall. The 20, 40 and 55 DMAs have converged around $2,065 per tonne and are providing strong overhead resistance. The 20 DMA’s failure to break convincingly above the 40 & 55 DMAs indicate a lack of clear direction. For the moment, prices are holding above the double-bottom at $2,007 per tonne. Additional support is toward the April 5 low at $1,977 per tonne.
Receive a free sample of market analysis and price forecasts.
Free SampleReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as soon as it’s published.
Subscribe