Aluminium The LME three-month aluminium price remained in low ground on Tuesday October 22, after being turned back by resistance at $1,745 per tonne, an area of previous support. Momentum indicators lack clear direction. The 20 DMA continues to trend lower, but the stochastics are converging in mid-ground. The RSI has also rolled lower and currently stands at 43. Further support is seen ahead of the October 3 low at $1,705 per tonne, below which support is seen toward $1,671 per tonne, where a series of lows stand between November 2016 and January 2017. Resistance is seen from the 20 DMA at $1,732 ahead of the June 17/August 7 double-bottom at $1,745 per tonne. The 100 DMA stands above at $1,779 per tonne. Long-term DTL resistance from the December 2018 high remains ahead of the 200 DMA at $1,822 per tonne. ...
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