Aluminium did push above 1860 but only as far as 1866. Last week’s performance was poor, unable to rally as we hover near April & May lows & there is a risk we break lower this week. Failure to hold above 1850/45 today risks a slide towards Wednesday’s low at 1821 & possibly May lows at 1809. A break lower this week should target 1778/76.
A push through 1860 is more positive but we then need to tackle Friday’s high of 1866 in order to reach for resistance at 1880/85. This could hold the bounce so a high for the day is possible but shorts need stops above 1895.
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