SINGAPORE: LME aluminium may retest a support at $2,324 per tonne this week, with a good chance of breaking below this level and falling towards the Jan. 5 low of $2,251.50.

The depth of the fall from $2,679.50 confirmed a reversal of the uptrend from $2,080.50.

The support at $2,324, together with a rising trendline, temporarily stopped the fall and triggered a bounce.

It seems the bounce was disappointingly weak, unable to extend above $2,441.

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The weakness reflects a prevailing bearish sentiment.

Unless the metal could stabilize above $2,369, it is prone to falling towards $2,252.