According to the news, technical analyst said on Tuesday that the technical signal of LME aluminum was mixed, because the price fell back to the neutral range of US$1,498-1,519 per ton.

This range consists of a 61.8% and a 50% Fibonacci retracement from the November 23, 2015 low of $1,432.50 to the March 7, high of $1,605.

If the drop of 1,498 US dollars will further fall to 76.4% Fibonacci retracement of 1,473 US dollars, rising above 1,519 US dollars will drive the price to 38.2% of the retracement of the 1,539 US dollars.

The wave pattern implies that the price is biased upwards. The uptrend from the March 24 low of $1,475 is made up of three waves, and the third wave, c-wave, has not yet been completed.