At the the time China started to impose steel curbs a Head and Shoulder pattern was clearly visible, on KIO and most traders, got out with good profits. However the profit taking did not stop here. There is something called technical trading and speculation and the traders went Short/Selling the price. With more imposed steel curbs the price continued down creating even more profitable trades for traders.
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This is for education purposes only and should not be considered as trading or investing advise.
Join us an learn more about speculating on the price.
This is for education purposes only and should not be considered as trading or investing advise.
Comment:
Bears are in full control here. We can see how effective the continuation patters played out.