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Thursday, June 22, 2017 1:06:36 PM
Steel Names Await the Administration's Remedy for Domestic Steel Industry
By MPTrader | June 22, 2017
Congressional Hearings are supposed to be held today about the Steel Industry, and supposedly, there are rumors that the Trump Administration will place import restrictions on steel.
The Model Portfolio is long AK Steel Holding Corporation (AKS).
The rounded base formation at the very low end of a major corrective (bear) leg from 11.39 to 5.30 (a correction of 54%) has the right set-up for upside breakout and continuation towards 8.00.
Certainly, positive news about the restriction of foreign dumping of steel will help the bullish case.
Stay tuned.
https://www.mptrader.com/middayminute/
• DiscoverGold
Click on "In reply to", for Authors past commentaries
By MPTrader | June 22, 2017
Congressional Hearings are supposed to be held today about the Steel Industry, and supposedly, there are rumors that the Trump Administration will place import restrictions on steel.
The Model Portfolio is long AK Steel Holding Corporation (AKS).
The rounded base formation at the very low end of a major corrective (bear) leg from 11.39 to 5.30 (a correction of 54%) has the right set-up for upside breakout and continuation towards 8.00.
Certainly, positive news about the restriction of foreign dumping of steel will help the bullish case.
Stay tuned.
https://www.mptrader.com/middayminute/
• DiscoverGold
Click on "In reply to", for Authors past commentaries
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Your Due Dilegence is a must!
• DiscoverGold
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