MT Arcelor Mittal shows the falling wedge and positive divergence that bounced the price a week ago. Now price is moving down to gather strength for the next continued constructive move higher. Note the gap at 31.6-31.7 which is an attractive entry target. The steel stocks, X, NUE, all have the same look as MT. More short term upside ahead but the weekly charts remain weak, sideways at best, so after the up move in the steels is enjoyed over the coming days, do not wear out your welcome, it would be prudent to take profits and move on as the weak weekly charts take over again in July. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or any links connected to this information. Consult your financial advisor before making any investment decision.
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