ARCELORMITTAL - On its historical lows

[Zebulon92600]

ArcelorMittal stocks just bounce off its historical lows at 8.3463 (daily chart). A doji is being formed on the candlestick of the day and a bullish divergence appears on RSI (which is getting bullish). A technical rebound is likely a technical to happen (you can monitor buy opportunities on smaller timeframes).

Zébulon, fan of the website : CentralCharts.com

 

[Zebulon92600]

The rebound began. In the short term, a falling wedge appears.... I aim a return on the upper limit of the pattern and a pullback on 9.46 (last lows)

Zebulan, fan of CentralCharts.com

 

[Zebulon92600]

don't be too greedy on this value which is fundamentally bearish! given the opening candlestick I prefer to cut my position and take my profit.

Zébulon, fan of CentralCharts.com

 

[Zebulon92600]

Arcelor stumbled twice on the fibonacci retracement 50% to 9.28 (1h chart). A return below the fibonacci 38.20% at 9.06 will relaunch the downtrend on the stock. I aim 8.80 and 8.62.
Arcelor is fundamentally and technically bearish on the long term ....

Zébulon, fan of CentralCharts.com