If you have a look at the Chart, you can see a big resistance Zone between 17-18$.
Three times Alcoa has tested this Level, three times a selloff was the result.
Now i see the possibility that Alcoa could test this Niveau again.
This szenatio requires Prices above 12,25$.
Should Alcoa could not beat this 12$-Level, a drop to the Low (2009) at 9$ respective 5$ can be exspected (worst case)
Three times Alcoa has tested this Level, three times a selloff was the result.
Now i see the possibility that Alcoa could test this Niveau again.
This szenatio requires Prices above 12,25$.
Should Alcoa could not beat this 12$-Level, a drop to the Low (2009) at 9$ respective 5$ can be exspected (worst case)
Note
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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.