After 2 months of consolidation Alcoa finally broke over .5 fibonacci Area.
Finish the weekly and daily outside its bollingerbands so I expect a retest of 57.50 or .5 fibonacci to cool off then take the next leg higher.
On the monthly it looks like a huge Double top is forming here.
Stop loss 57$
Target 70$
Wait for the retest of 57.50 to see if it holds. I never reccomend longs on anything outside its bands
Finish the weekly and daily outside its bollingerbands so I expect a retest of 57.50 or .5 fibonacci to cool off then take the next leg higher.
On the monthly it looks like a huge Double top is forming here.
Stop loss 57$
Target 70$
Wait for the retest of 57.50 to see if it holds. I never reccomend longs on anything outside its bands
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.