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)
Comment:
Trading below 8.85 perhaps indicates the next downwave