Aluminum ALUM technical analysis

ALUM sits in a daily downtrend, with price below the 3,209.33 SMA20, but short-term momentum has firmed: 4h RSI is 61 and price holds above the 3,096.96 SMA20. The daily RSI at 37 shows the larger trend is still weak.

The active battle is at the falling 4h trendline near 3,099.55 (2 touches), just under resistance at 3,114.47-3,123.78 (2 touches). Support at 3,074.84-3,084.16 (1 touch) and 3,081.59-3,090.91 (1 touch) sits below. The heavier ceiling is 3,207.59-3,216.91 (4 touches).

Bulls need a hold above 3,099.55 and a push through 3,114.47-3,123.78; clearing that opens 3,147.47-3,156.78 (2 touches). Bears need a break below 3,074.84-3,084.16, with 3,045.34-3,054.66 (1 touch) next.