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Aluminum has reached December 2020 highs in the $2093/ton area (100% target of Fibonacci expansion from the bearish channel breakout point).
Will it break up or generate an initial correction?
Analyzing the “Uninterrupted Close” statistic, aluminum has closed positive for 9 consecutive sessions (the all-time high is 12 and the average is 2).
A negative close is likely today with prices below the 2090$/ton area and maybe a physiological return towards the 2040$ area.
We confirm the super positive trend of all non-ferrous metals.
