Aluminum May Extend Rally to $2,295 Per Ton: Technical Analysis
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Aluminum, the second best-performing metal on the London Metal Exchange this year, may extend a rally to $2,295 per ton in the next few weeks, according to technical analysis by Commerzbank AG.
“Aluminum has maintained its break higher and continues to correct higher,” Karen Jones, a Commerzbank technical analyst in London, wrote in a Jan. 18 report. The erosion of the December high of $2,168 suggests an extension of the rally, she said in a telephone interview today.