Technical analysis

Alcoa Wave Analysis 29 March 2024

– Alcoa broke resistance level 32.00

– Likely to rise to resistance level 35.00

Alcoa recently broke the resistance level 32.00, which has been reversing the price from the start of January – which accelerated the active impulse wave C.

The breakout of the resistance level 32.00 was preceded by the breakout of the 61.8% Fibonacci correction of the downward correction from December.

Alcoa  can be expected to rise further to the next resistance level 35.00 (former monthly high from December and the target for the completion of the active impulse wave C).

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