SMM Aluminium Price Forecast Based On Machine Learning And Technical Indicators (Feb 27-Mar 3, 2023)  

SHANGHAI, Feb 27 (SMM) - The machine learning indicates that the most-traded SHFE aluminium contract will fluctuate rangebound or downwards this week. The random forest & time series model predicts that the price range of the most-traded SHFE aluminium contract will be [18,230, 18,820], and the extreme price range will be [17,960, 19,050]. The LSTM & time series model predicts that the range of SMM A00 aluminum average price will be [18,190, 18,890], and the extreme range will be [17,980, 19,030]. According to the SMM weekly fundamentals forecast model, the range of SMM A00 aluminum average price will be [18,180, 18,780].

The futures technical indicators suggest that the most-traded SHFE aluminium contract may move rangebound or go down. Based on the 4-hour K-line, SMM observed a total of 43 technical indicators, of which 25 were neutral, 7 were bullish, and 11 were bearish. Most of the oscillating indicators and momentum indicators pointed to rangebound price movement, while the trend indicators were generally bearish. Bearish signals outnumbered bullish ones.
After combining machine learning and futures technical indicators, SMM predicts that the most-traded SHFE aluminium contract will meet resistance in the range of [18,800, 19,000] while finding support in the range of [17,900, 18,200].