SINGAPORE: LME aluminium may retest support at $2,286 per tonne this week, probably after completing a pullback towards a rising trendline. The pullback is expected to end around $2,369.

The whole technical picture will change drastically if the metal breaks $2,369, as such a break will not only lead to a gain to $2,441, but also signal a continuation of the uptrend from the Jan. 5 low of $2,251.50.

Aluminium touches two-month low on concern about rates

A break below $2,286 could open the way towards $2,181-$2,234 range.