Adam Smith Associates - Aluminium prices moving northward


Aluminium prices surpassed the December high to a new 52 week high this week. The 20 week average [red line] held as support, and the weekly momentum in the upper end of the chart went back into buy mode. All the moves last year were corrective and were therefore indicating the move up was corrective. That entire pattern is taken as a triangle that ends in wave E. Only from there do we start a new impulse wave up. Now we are starting a third wave that can go up to 135 in the next wave based on Fibonacci projections
Adam Smith Associates offers trade & commodity finance related services & solutions to its domestic & international clients. Views expressed in this article is purely of the author - Mr Rohit Srivastava - a leading technical analyst. Visit www.adamsmith.tv for services offered by Adam Smith Associates Pvt Ltd

Popular posts from this blog

Dow Long Term Outlook

Image
Elliott Wave analysts get blamed for having marked the Y2K top as the end of the 5th wave which was probably just the 4th. This is an occupational hazard. The time frame involved means that if you are wrong then its years worth in price. Still that does not diminish the importance of knowing where you are in the Fractal. Adam Smith Associates offers trade & commodity finance related services & solutions to its domestic & international clients. Views expressed in this article are purely of the author - Mr Rohit Srivastava - a leading technical analyst. Visit www.adamsmith.tv for services offered by Adam Smith Associates Pvt Ltd
Read more

Trade Finance News and Trends

Trade finance modernization turns towards blockchain A study of European treasurers by working capital fintech C2FO finds that 75% are focusing on investing in trade finance technology in 2017. Colin Sharp, senior vice-president, EMEA at C2FO, says the shifting macroeconomic environment is pressuring corporates to refocus their efforts on trade finance: “Treasurers are facing a lot of uncertainty, both from the US and around Brexit. This is putting stress on the supply chain, with demand increasing and decreasing. Treasures want the ability to use their assets to make returns and give some certainty. Source: https://www.euromoney.com/article/b12khnzp4pq9p5/trade-finance-modernization-turns-towards-blockchain --------------------------------------------- ICC Academy unveils new e-course on digital trade finance and fintechs The educational arm of the International Chamber of Commerce (ICC), the ICC Academy, has launched an advanced-level e-course entitled “Digital Trade Financ
Read more

Adam Smith Associates - Soy Meal should move from 310 to 420

Image
Soy Meal Continuous has been consolidating for 3 months in a narrow range after the initial move up. The next move higher may now have started. Yesterdays move broke out of the trend line of the highs and closed above it. Soy prices should move from 310 to 420 near the previous high in the 3rd wave on the CBT exchange. Staying above the 315 and 325 short term supports should be bullish for Soy. Adam Smith Associates offers trade & commodity finance related services & solutions to its domestic & international clients. Views expressed in this article is purely of the author - Mr Rohit Srivastava - a leading technical analyst.
Read more