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- Aluminum set to reach new year highs – Credit Suisse
Aluminum set to reach new year highs – Credit Suisse
FXStreet reports that Credit Suisse analyst team said that aluminum (LME) is currently seen as the strongest industrial metal.
“Aluminum completed a major base last year and is seen on the cusp of resolving its recent range to the upside with a break above the recent range high at $2301 needed to confirm. This should then lead to further upside potential toward $2375, the May 2018 high, before the even more important 78.6% retracement of the whole 2018/2020 downmove seen at $2448, which we would expect to cap at first. Beyond though in due course can expose $2718, the April 2018 high.”
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