Reuters reported that LME aluminium has completed rebound triggered by support at USD 1,815 and is expected to break this level on Tuesday.

Support is provided by the 76.4% Fibonacci retracement on the rise from the August 7 low of USD 1,773.25 to the August 19 high of USD 1,949 serving as the last barrier towards USD 1,773.25.

Wave pattern showed that the rebound has been driven by a wave 4, which has peaked around resistance at USD 1,840, the 61.8% retracement. This wave is expected to be totally reversed by a downward wave 5, which is capable of travelling to USD 1,773.25.