The price is currently in a narrow trading range between $1,910/t and $1,950/t, so breaks of this range will likely indicate near-term price direction. However, it is important to keep in mind that the aluminium price is also currently in a much wider and longer-term range, between $1,865/t and $1,980/t. So, even if the current range is broken to the upside or downside, the ensuing upward or downward move could encounter resistance or support at the boundaries of this larger range. A break above or below one of these levels would be significant to near-term price direction.
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