| Aluminum prices have “officially entered into a technical bull mode” after prices closed above the 200-day moving average for two consecutive days and also met other key technical standards, said Harbor Intelligence in a research note.
“Since 2003, when these conditions have been met, LME aluminum prices have experienced a longer-term upward move with an average increase of $750 per mton (37 cent/lb). The Fear/VIX index has fallen below key thresholds and is consistent with strong physical primary and secondary demand in North America and resumption of sustainable but modest growth in Europe and China,” Harbor added...............................................Full Article: Source
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