Nucor CorporationUpdated NUE heads up at $172: Major Resistance a LocalTop or LaunchPad?
NUE and other materials got an election boost.
Nucor ran right up to a major Resistance zone.
Look for a Ping-Rejection or a Break-n-Retest.
$ 170.16 - 172.25 is immediate (major) barrier.
$ 189.32 - 191.31 is the next major Resistance.
$ 160.51 - 161.73 iss the first (minor) support.
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Nucor ran right up to a major Resistance zone.
Look for a Ping-Rejection or a Break-n-Retest.
$ 170.16 - 172.25 is immediate (major) barrier.
$ 189.32 - 191.31 is the next major Resistance.
$ 160.51 - 161.73 iss the first (minor) support.
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Trade active
DOING(yellow shaded part is from posting time).
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Zoom in (m1)
Caught that top EXACTLY (of course)
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Looking at the support:
$ 161.73 at top is a Genesis fib.
$ 160.51 is a fib of the wave down.
Bulls need to get back above asap.
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If current support fails:
$ 158.94-157.41 is first good support below
$ 153.25 will be a single-fib speed brake.
$ 149.48-149.55 will be Bulls' last stand.
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Proceeding exactly per plan thus far.
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Trade closed: target reached
BOOM! 10% gains on shortPerfect entry, time to book profits.
Given the general market melt up,
this is more likely to rise than drop.
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the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag
the Trading View is my Nation
the Moderator Tag is my Flag
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the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag
the Trading View is my Nation
the Moderator Tag is my Flag
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.