Alcoa, Rio Tinto and ACH - long perspectivesRio Tinto is one of the biggest extracting companies, of aluminium, so it has a direct correlation with its price. We can observe higher highs and lows. (On the aluminium price a double bottom formation is almost finalized, a break might bring further appreciation)
Alcoa and Aluminum Corporation of China Limited, have also a direct correlation with the aluminium price. And as we can see they are consolidating really close to a bottom. A rise in the price of the metal will drag a rise in the stocks price.
RIO TINTO - The bounce from the trend line might send the price to the rejection line
ALCOA - A break through the resistance might send the price to the price pattern's target
ACH - The bounce from the rejection line might send the price to the resistance, and later confirm the upward move with a HL, just like RIO and AA.
Overall bullish signs from the TA, but also positive signals from the fundamentals which might help Aluminium price to get higher.
