Alcoa Wave Analysis 24 November, 2020

• Alcoa rising inside impulse wave C

• Likely to reach 22.00

Alcoa continues to rise inside the sharp upward impulse wave C – which is a part of the intermediate impulse sequence (B) from March.

The price earlier broke the round resistance level 20.00 and the wide weekly up channel from March – which signalled the acceleration of the active impulse waves (v) and C.

Alcoa is likely to rise further toward the next round resistance level 22.00 (former monthly high from December and the target price for the completion of the active impulse wave C).