Middle East Tensions Shake Global Aluminum Market

Aluminum prices fell 1.17% over the past 24 hours to 3474.75. While the RSI at 35.3 approaches oversold territory, the MACD line remains below the signal line and in negative territory, suggesting short-term bearish momentum could persist. The price is trading below the 20-day simple moving average (3522) but is attempting to hold just above the 50-day average (3495). Although Middle East tensions are increasing supply concerns, technical indicators present a weak outlook. In the short term, the downtrend is expected to continue, with selling pressure likely to intensify if the 3495 support level is broken.

The news headline points to a commodity market development that does not directly affect GOOGL. However, technical indicators suggest an increased likelihood of a short-term correction or sideways movement, with the RSI approaching overbought territory at 75.9 and the MACD trending below its signal line. Although the stock has risen 3.7% in the last 24 hours, profit-taking may follow this rally. Overall, while the news impact remains limited, the technical picture does not provide a clear directional signal in the near term.

Rising tensions in the Middle East are threatening aluminum supply, potentially pushing prices higher. Although AA shares closed slightly lower in the last session, the RSI at 51.4 remains in neutral territory, and the MACD has started to rise above the signal line. A close above the 20-day SMA provides short-term support. However, the stock remains below the 50-day SMA, and broader market uncertainty poses a risk of limited upside.