Is United States Steel Corp doing an Iron Man?Demand for steel is surging, so are its prices, so might the price for United States Steel Corp. The price is already in an uptrend and could at least reach the area around 29$
Unitedstatesteelcorp
United States Steel Corp $X 60% crash ahead possibleI know a lot of people are bullish on this asset and might not want to see this but just giving a tip to what could possibly happen if this plays out. No guarantee this will happen though of course and I wish the best for every trader out there. First let me start by saying this trendline from 2018 has yet to be broken. We had a false break out on June 8th this year but then price was rejected. Since rejected it formed the head in a possible H&S pattern.
Now as you can see here we started creating the right shoulder of this pattern and seem to be in a pennant formation now. Bearish 50 and 200 MA crossover on the 4 hr is getting closer too. This is all just possibilities of what could be coming in the future. If it plays out we are looking at a possible 60% downward move. Good luck traders!
Elliott Wave Analysis of United States Steel (X)Highly speculative analysis of a difficult pattern. Expecting another drop to a new low to complete this segment of the pattern, as illustrated.
If my analysis is correct then there is significant value as price rises in the projected pattern.
