Aluminium is underway to re-test the resistance along the upper trendline of the channel. After reaching a price level of $2,553, coming just shy of the resistance of $2,561, the commodity sold off but created what seems like yet another higher low on this daily chart (highlighted using ovals). With the price now trading at around $2,521, we could see a test of this upper channel trendline as early as this week especially with the Fed rate cut expected tomorrow. However, of course, this is not guaranteed and markets can interpret the Fed decision differently. Near-term support sits at $2,470, a break below could see the price decline back towards the lower trendline of the channel. However, only a break below the higher low of $2,326 could lead to further downside and indicate a possible shift in momentum. Looking at the MACD indicators, it has once again turned bullish, further strengthening the case here for a potential resistance test.