SHFE Aluminium Price Forecast Based On Machine Learning

SHANGHAI, May 30 (SMM) - The SMMI index fell 3.18% on a weekly basis as of last Thursday. The machine learning indicates that the most-traded SHFE aluminium contract will rise initially and then fall back or fluctuate downwards this week. The random forest & time series model predicts that the price range of the most-traded SHFE aluminium contract will be [17,740, 18,540], and the extreme price range will be [17,450, 18,760]. The LSTM & time series model predicts that the range of SMM A00 aluminium average price will be [17,730, 18,510], and the extreme range will be [17,430, 18,740]. According to the SMM weekly fundamentals forecast model, the range of SMM A00 aluminium average price will be [17,770, 18,520].

After combining machine learning and futures technical indicators, SMM predicts that the most-traded SHFE aluminium contract will meet resistance in the range of [18,500, 18,800] while finding support in the range of [17,400, 17,700].