Here Mandi steel long chart is near to multiyear support zone. Circle mark A: It has drifted bellow support and bounced back. Circle mark B: Market bounce back above support and sustaining. Technically both has equal importance, any of one will decide the fate for medium term.
steel has done more than 70% of price correction this correction was an anomaly that might have been due to corona virus epidemics I say so because price usually does not break through the red ichi cloud it is expected that the price enter a period of time correction in the form of any compression as you see in the weekly timeframe, the lower edge of the...
Steel is hiding below the huge green mass of an ichi cloud whose leading span A & B are nearly on the verge of crossing one another. that signifies that it may take another 2 to 3 years for it to gain momentum to rise past this area of crossing. I think the price may not see further correction but instead may experience time correction & play in a range to the side.
steel and metal go down in de mid-term , support and resistance , wave analysis , fundamental world news
In my view the price of steel will keep in up trend uptil the above two levels.
In the long run, it can achieve these goals Apologies, for crowded analysis Thanks for taking the time to watch