Bearish Signals on Aluminium
Aluminium versus the USD (ticker: XAL/USD) has traded southbound since reaching a high of $2,800, limited between a descending channel (extended from $2,800 and $2,475).
Adding to the bearish vibe, price action manoeuvred below trendline support, taken from the low of $2,110, and retested the underside of the ascending line to form resistance. What also might interest technical analysts is the head and shoulders top pattern (head at $2,800), which was completed in mid-July (neckline breached). Price has yet to reach the pattern’s profit objective at $2,131, therefore, further underperformance could be seen for the base metal this month. In addition to this, you may acknowledge the potential for a bearish pennant pattern to form (drawn from the high of $2,321 and $2,206).
Adding to the bearish vibe, price action manoeuvred below trendline support, taken from the low of $2,110, and retested the underside of the ascending line to form resistance. What also might interest technical analysts is the head and shoulders top pattern (head at $2,800), which was completed in mid-July (neckline breached). Price has yet to reach the pattern’s profit objective at $2,131, therefore, further underperformance could be seen for the base metal this month. In addition to this, you may acknowledge the potential for a bearish pennant pattern to form (drawn from the high of $2,321 and $2,206).
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.