This is weekly chart of Aluminium. It seems to be forming a large H&S (head and shoulder) pattern which looks super bearish, if the neckline is broken with good volumes and there is a follow through. Previous swing low around 2306 at neckline is already broken.
If this H&S materialises then we’re looking at level of 1500 or possibly even lower. Given the ongoing inflation situation, commodity prices would likely keep falling for some time to keep the inflation in check.
