Aluminium Retreats After Testing Channel Resistance at Recent Highs

⬤ Aluminium pulled back this week after hitting resistance at the upper boundary of its ascending channel. Last week's shooting star candle formed right at channel resistance, creating a short-term reversal signal near recent highs.

⬤ The drop represents natural bearish follow-through from that pattern rather than a breakdown of the trend. Price is still trading inside the rising channel and holding above ascending support just above the 21 EMA, suggesting the primary uptrend hasn't been invalidated.

⬤ Sellers stepped in at an area where the risk-reward setup favored short positions near resistance. Since this happened within an uptrend, it looks more like temporary exhaustion than a major reversal. The rising channel and moving averages continue providing technical support.

⬤ As long as Aluminium holds the ascending support and stays within channel boundaries, this move points to consolidation rather than a trend change. The recent weakness appears to be a healthy pause after the advance, leaving the broader bullish structure intact while the market sets up for its next directional push.