SINGAPORE: LME aluminium may peak in a resistance zone of $1,880-$1,898 per tonne this week, as suggested by its wave pattern and projection analysis.

The metal is riding on a wave (5), the final wave of the uptrend from the May 15 low of $1,460.

This wave is expected to be roughly equal to the first wave, the wave (1).

A projection analysis suggests an ultimate target of $1,898, the 186.4pc projection level of the uptrend from $1,562.