MT looks like it setting up for a big break past this this extreme resistance zone.
wait for a clear break past 37.5 for breakout confirmation.
price targets once the breakout comes: 34.81-43.03-51.25-59.47
like and follow for more 💘
MT has broken out of the 34 resistance level and this is a positive going long.
MT respected the MA100 line a few times before moving much higher.
All steel stocks are doing well recently like CLF.
Recently a intermediate S/R level was flipped (dashed line). Next is a bigger one around 30.7$. after flipping that level next target is 40.7, and when that one is gained Im looking much further up. This is long term ofcourse since this is a weekly chart. One for my watchlist!
Shares of several steel companies are trading higher, potentially amid US infrastructure optimism and outlook for an economic recovery, both of which could lift demand. Additionally, ArcelorMittal (MT) reportedly raised flat steel price offers.
Steel Stocks Higher Friday: US Steel Up 8%, Nucor Up 7%, Arcelor Mittal Up 6%, Steel Dynamics Up 5%(Benzinga)
While I...
