LME Aluminum Needs To Close Above $2,800/Ton

LME aluminum is hovering around the $2,800 a metric ton level and needs to close above this area once more in order to confirm a break to the upside, says Triland's Michael Khosrowpour. This appears likely as strong support levels down through to $2,775/ton "should trigger charting bulls to enter the landscape, forcing upside pressure back into the market." But a lack of momentum to see follow-through buying above $2,810/ton could pose a problem, Khosrowpour adds, and cause a reassessment of nearby targets. LME aluminum is last at $2,798/ton, steady overnight.