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Elpidaldo

MT: WATCH FOR BREAK OUT

Long
ARCELORMITTAL SA (EURONEXT:MT)  
Elpidaldo  
EURONEXT:MT   ARCELORMITTAL SA
Support and Resistance Supply and Demand Double Top or Bottom MT Double Bottom steel tradeidea tradesetup breakout Stocks basicmaterials
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supportandresistance supplyanddemand doubletoporbottom mt doublebottom steel tradeidea tradesetup breakout stocks basicmaterials
ArcelorMittal, one of the major steel producers.

This is the weekly chart. After a big double bottom, MT is back at historical resistance around 30-31.
I would watch that level and enter a long swing trade if it breaks 31.

First target would be 40.

Most analysts rate this as a buy with a target at 50.

Trade safe.
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