Metal for the London Metal Exchange (LME) may drop to $ 1,993 a tonne as it has clearly shed support above $ 2,035.
The support is 50% Fibonacci forecast from the low of June 26 to the low of $ 1,855 to the high of November 1 of $ 2,215. The next support at 1,993 US dollars, if below here may test $ 1,940.
The trend line, which started rising from 1,855 USD, has been damaged, suggesting that the uptrend will be reversed. In the hourly chart, aluminum is carrying a C wave towards its forecast of 100% at $ 1,994.
Even a rebound may not break the resistance at $ 2,035.