SINGAPORE: LME aluminium faces a resistance zone of $2,947-$2,967 per tonne. It may hover below this range this week or retrace into a support range of $2,841-$2,894.

The range is formed by the 161.8% projection level of an upward wave c from $2,581.50 and the 14.6% retracement of the uptrend from $1,455.

Each reader should consult his or her own professional or other advisers for business, financial or legal advice regarding the products mentioned in the analyses.