JAN08: Downtrend has taken the price to the Lower Channel Support Line, there is a positive momentum divergence.
Look for the 0.236 Fib level, it is Resistance @28, if it goes above 28, it may reach 31.
The two words of warning here is that the first move could be just a short squeeze due to short covering at this level and the second is Earnings is scheduled on the 26th.
Entry @28, Target 1 @31, Target 2 @ 34, Stop @ 25
Ref. "UNITED STATES STEEL CORP -X -DAILY - LEVEL TO BUY" by Tim West.
Look for the 0.236 Fib level, it is Resistance @28, if it goes above 28, it may reach 31.
The two words of warning here is that the first move could be just a short squeeze due to short covering at this level and the second is Earnings is scheduled on the 26th.
Entry @28, Target 1 @31, Target 2 @ 34, Stop @ 25
Ref. "UNITED STATES STEEL CORP -X -DAILY - LEVEL TO BUY" by Tim West.
