From a both, technical and fundamental perspectives, It looks like Russian metalurgic and extraction complex sets-up for the next wave higher in this Q4, or maybe early next year. Maybe it is because of rubble current and future potential weakness, or because of the dividend that these companies (CHMF, MAGN, NLMK etc) pay or are planning to, we may observe...
Monthly Uptrend Weekly Uptrend with probable breakout up Daily Above Weekly SR Wait for retest and if it ok then open Long OPEN 1100 SL 1025 TP 1228 RR 2 Duration 3 month Looks healthy Also taking into account that it signed contract with US on supplying steel, it could be positive active. One risk factor is weak demand on steel due to COVID.
📈 CHMF SHORT H4 🛒BUY BELOW = 941 🎯Target1 = 930 🎯Target2 = 922 🎯Target3 = 🛑Stop loss or cancel trade = 960 🙈Risk = (2%-3%) #CHMF #CHMFSHORT #CHMFSHORT
📈 MOEX:CHMF LONG H4 🛒BUY above = 975 🎯Target1 = 985 🎯Target2 = 993 🎯Target3 = 1004 🛑Stop loss or cancel trade = 955 🙈Risk = (2%-3%)
CHMF go down. Sell at the open market hour. And hold it till 1001.