Aluminium: ⬇️ Sell
– Aluminium reversed from long-term resistance level 3670.00
– Likely to fall to support level 3400.00
Aluminium recently reversed down from the powerful long-term resistance level 3670.00 (which started the sharp weekly downtrend at the start of 2022).
The resistance zone near the resistance level 3670.00 was strengthened by the upper weekly Bollinger Band and by the resistance trendline of the weekly up channel from January.
Given the strength of the resistance level 3670.00 and the overbought daily Stochastic, Aluminium can be expected to fall to the next support level 3400.00.