Technical Forecast for Aluminium
Aluminium has been quite directionless but made it through 1860. We then struggled at Friday’s high of 1866. If we make it higher today we run in to resistance at 1885 & again at 1895. This should hold the bounce so a high for the day is possible but shorts need stops above 1903.
A drift back below 1860 keeps us within the range of the last 5 sessions. Immediate support is then 1850/45 but below here risks a slide towards last week’s low at 1821 & possibly good support from May lows at 1809. A break lower this week however should target 1778/76.
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