Archive · 18 Jun 2025
Aluminium Futures Anticipated to Correct Before Rallying
Aluminum futures are currently priced at ₹246 per kg, showing an increase this week.
However, the price might pause around ₹248 due to a resistance level.
Traders could take profits at this level which could cause prices to fall to ₹242.
If the price dips to ₹242, it could be a good buying opportunity.
The overall expectation is that the price will rally, potentially reaching ₹256 after any price correction.
Aluminium futures have gained 1.5% this week, currently trading at ₹246/kg.
A barrier exists at ₹248, coinciding with the 50% Fibonacci retracement.
Profit booking around ₹248 could lead to a temporary price dip.
A drop to ₹242 is expected, which could be a support level.
A rally to ₹256 is predicted post any correction.
- Who
- N/A
- What
- Analysis of Aluminum futures price.
- When
- Published on June 18, 2025. Price action observed since early May.
- Where
- N/A
- Why
- Analysis to determine potential trade strategies and price movements.
- Current Price
- ₹246/kg
- Weekly Gain
- 1.5%
- Resistance Level
- ₹248
- Potential Support
- ₹242
- Target Price
- ₹256