Alcoa (AA) is in a bullish trend, recovering the massive losses incurred during the global financial crisis. Last week, we noted that AA was threatening to break into a multi-year high. Indeed, it has pushed into highs not seen since 2008.Alcoa (AA) Monthly Chart (click to enlarge) Range Breakout:- The monthly chat shows price action broke above a multi-year range resistance around 41.50. - This breakout shifts a secular sideways market into a possibly long-term bullish one. - We might see price push to 50, which is a psychological level. Alcoa (AA) Daily Chart (click to enlarge Support; Upside:- If price pulls back we should anticipate support around 40. This would confirm that bulls have taken over.- The upside for the bullish market is 60. - As we can see on the monthly chart, there is a key support pivot here that might turn into resistance.