Long

STLD: Massive uptrend in steel coming

Updated

STLD's chart is massively bullish, the same as copper, iron ore futures, AUDUSD, and other correlated instruments. The setup here confirmed some time ago, but it's relevant as an analysis piece now. Most people are bearish on equities but I believe we're seeing the bottom here, or very close. Rising commodity prices seem likely going forward as well, which will benefit the AUDUSD bulls like me.

Cheers,

Ivan Labrie.

Note

Target one hit, AUDUSD is lagging this so bad, it'll rally big time.

Note

You can double the position and trail stops to 35.55 here. Last: 36.68

Trade closed manually

All targets hit, exit the trade.

IvanLabrie

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