Aluminium LME aluminium’s May 2019 low at $1,784 per tonne remains under threat and a negative break below this level could encourage more technical selling to emerge in the short term. Its daily RSI and stochastic lines have slid lower too, threatening more downside for prices. Given its bearish technical configuration, the LME aluminium price needs to quickly regain confidence by trading above the downtrending 20 DMA again, currently at $1,827 per tonne. Otherwise, the light metal might register a fresh 2019 low in the coming days. What seemed like a bullish breakout to the May 16 high at $1,871 per tonne, now looks like a fake break and the technical rejection has contributed to the negative time and recent selling pressure....
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