We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that,...
Daily Chart Report
X looks like it is slowly rolling over. The chart is neutral leaning negative at the current moment. I also want to point out that it did close with increasing volume below the 200D SMA today which is a bearish signal.
The growth sell off has made way for other sectors to shine. $X above $26 could provide a great long opportunity for a swing to the Wave 3 target at 1.618 extension ($33)
Support: $24.00
Resistance: $26.00, $28.00
We have first signs of reversal on the MACD following yesterdays light green bar. Would like to see a LOD break from yesterdays chart for continuation which we are not too far from.
Can see $X gapping down and falling until support at $16 range with their next earnings.
Triple top (might be stretching it), definite double top with a descending triangle.
#X seems to be struggling at these levels this instrument presented a head fake and a lower high we could see prices hit $21.50 this could also be considered a 1 2 3 top at a supply zone.
NYSE:X
NYSE:X US Steel Corp
I honestly do not know what I am looking at! Overall, this appears to be a sideways move, but with significant volatility. Sitting neatly within the levels shown, but I am not clear on if this is an ascending or descending wedge forming over the last few weeks. Overall market conditions are probably mostly at play here, awaiting for the...
With the infrastructure bill being passed, we may see companies like US Steel and CLF benefit.
It is interesting however to note the current multi-year trading range, so I think that a technical trade plan with an underlying fundamental rationale are both important for active traders getting involved in the infrastructure play.
ORB for today. Sitting on Doji - Play in Any Direction.
Downside has less Support
than upside has resistance.
If break Up post Blue - Calls
Breaks down past pink - Put
test
China crashes price of steel. I predicted oil would crash from $64. Don't miss Steel...
United States Steel Corp. engages in the manufacturing and selling of steel products. It operates through the following business segments: Flat-Rolled Products, U.S. Steel Europe, and Tubular Products. The Flat-Rolled Products segment includes managing steel plants and...
Trading under to trendline resistance. Alot of material and metal stocks took a hit with that evergrande situation but it looks to have found buyers at 20.5 range.
We could have a nice breakout confirmed above 23.50
