Monday, July 8, 2013

CLF Cliffs Natural Resources Daily Chart

CLF is an iron ore stock so another play on the steel industry, like WLT from the met coal perspective.  VALE is another iron ore play and these are beaten because of slowing global steel demand and increasing capacity.  However, CLF is set up nicely, like the coal stocks, with falling wedges, oversold conditions and positive divergence all pointing at a recovery bounce ahead.  Keystone is holding CLF long right now. Projection is sideways to sideways up for the weeks and months ahead. This information is for educational and entertainment purposes only.  Do not invest based on anything you read or view here.  Consult your financial advisor before making any investment decision.

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