Aluminium: ⬆️ Buy
– Aluminium reversed from support area
– Likely to rise to resistance level 3670.00
Aluminium recently reversed from the support area between the pivotal support level 3500.00 (former resistance from March), 20-day moving average and the 38.2% Fibonacci correction of the upward impulse from March.
The upward reversal from this support zone stopped the previous minor ABC correction 4, which belongs to the intermediate impulse wave (3) from January.
Given overriding daily uptrend, Aluminium can be expected to rise to the next resistance level 3670.00 (top of the previous impulse wave 3).