SINGAPORE: LME aluminium could fall into $2,888-$3,004 range this week, as it has broken a support at $3,214 per tonne.

The break confirmed the extension of a downward wave c from $3,742, which could travel to $2,888, its 100% projection level.

The fall may pause around the support at $3,090, which is strengthened by a similar one at $3,107, the 61.8% retracement of the uptrend from $2,510.

Aluminium heads for biggest quarterly gain since 1988

A break above $3,214, now a resistance, could lead to a gain into $3,315-$3,416 range.