Aluminium Market Analysis The Week Ahead 03rd March ‘25
Aluminium maintains a bullish sentiment, supported by a longer-term uptrend. However, recent price action shows sideways consolidation, indicating a potential breakout or corrective move in the near term.
Key Levels to Watch
Resistance Levels: 2708, 2740, 2780
Support Levels: 2660, 2544 (200 DMA), 2480, 2360
Bullish Scenario
A strong breakout above the 2660 resistance level could confirm bullish continuation, targeting 2708, followed by 2740 and 2780 in the longer term. If price sustains above 2660, it would signal renewed buying interest, reinforcing the prevailing uptrend.
Bearish Scenario
A confirmed breakdown below 2544 (200 DMA), with a daily close under this level, would weaken the bullish outlook. This could open the door for further declines toward 2480, with extended downside risk toward 2360 if selling pressure persists.
Conclusion
Aluminium remains bullish, but price action around 2660 will determine the next move. A breakout above this level could drive further gains, while a failure to hold above key support at 2544 may shift momentum toward a deeper correction. Traders should monitor these levels closely for confirmation of trend direction.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
Key Levels to Watch
Resistance Levels: 2708, 2740, 2780
Support Levels: 2660, 2544 (200 DMA), 2480, 2360
Bullish Scenario
A strong breakout above the 2660 resistance level could confirm bullish continuation, targeting 2708, followed by 2740 and 2780 in the longer term. If price sustains above 2660, it would signal renewed buying interest, reinforcing the prevailing uptrend.
Bearish Scenario
A confirmed breakdown below 2544 (200 DMA), with a daily close under this level, would weaken the bullish outlook. This could open the door for further declines toward 2480, with extended downside risk toward 2360 if selling pressure persists.
Conclusion
Aluminium remains bullish, but price action around 2660 will determine the next move. A breakout above this level could drive further gains, while a failure to hold above key support at 2544 may shift momentum toward a deeper correction. Traders should monitor these levels closely for confirmation of trend direction.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.