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.


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