CLF: Expecting A Downside Move In The Near FutureFriends
CLF is looking good for a short soon, to the downside. It is worth noting that the stock is in the process of a three drivers pattern, and this final leg brings you all into the buying range, so like every time you short a third structure leg, you take profits early, as pin bars, and other shiz are likely to form at these sort of bottoms
This stock is NOT ready to trade now, I expect a resistance retest first, and a nice move down, safer buys are obviously above the short term ascending channel, which co incidentally breaks at the exact same time as the support resistance zone, a zone which is important to break to assure safety and actual bearish enthusiasm into this trade.
If we ttrade above 7.50's, this idea is void.
Regards
Tom
