Quotes aluminum traded within the descending wave pattern Wolfe with a common purpose fall below the level of 1200. However, there is support for the region as a rising channel that could trigger a rebound in aluminum prices in the near future on the level of 1520.
Aluminum prices forecast – May 18, 2016
The breaking of the bottom of the channel will provoke a continuation of falling Aluminum within the mining bearish wave Wolfe. Also, do not rule out a correction in prices in the area above the level of 1560 for the formation of the descending pattern on the head and shoulders continuation of falling further down. Thus, Aluminum prices forecast – May 18, 2016 suggests falling prices for aluminum in the framework of completion of work bearish wave Wolfe.