• Aluminum has been trending positively over the past six months after securing above the 200-W SMA in July 2016. With the higher highs and higher lows formation intact over the past six months, aluminum might be forming the continuation pattern towards the US$2,000-US$2,100 levels.

• Meanwhile, on the flip side, if aluminum violates below the US$1,848 level, next support will be anchored around the US$1,791 level. Cut loss will be pegged around US$1,751.

Source: Hong Leong Investment Bank Research - 27 Feb 2017