Alcoa $AA has been in a bearish correction since cracking $57 a share in January. In February and again at the start of March, price rebounded from $44. This is now a key support, maintaining an overall bullish outlook on the daily chart.AA Daily Chart(click to enlarge)Bulls Still In Charge:- In the past couple of months, bullish momentum has been neutralized as the RSI dipped to 30. - However there are still strong signs that bulls are in charge. 1) Price still above the 200-day simple moving average.2) Price is still above the rising channel support.3) Price low of $44 in Feb/March is above the $40 low in Nov/Dec. - During the 3/7 session, price rallied and broke above a falling resistance.- This could be part of a bullish continuation run.- However, we have to monitor the $50-$50.10 area. - Inability to push above this resistance would suggest that AA has strong risk of further correction at least back towards the $44 support.- A break above this could open up the $57 area as well as the $60 mark. $60 is above the previous high, but is within the context of a bullish market that AA is still in.