Recently CLF has been bound by a triangle with support of around $17.30. It's recently broken out and fell towards a decent trendline. If CLF bounced off my upper resistance trend line and the bottom of the support trendline, we'll have a very good bullish flag which is a continuation of CLF going upppp.
Earnings is the perfect catalyst to cause a pre earnings run up to around $17.30 or higher and cause a sell off if it is priced in.
$15.50 to $16 for me is the perfect buying range post earnings. I will probably open up a long position regardless of the price action actually, I'm very bullish on steel. I'm looking to see if CLF can retest the 200SMA on the 4hr if there is a post earnings dip.
Earnings is the perfect catalyst to cause a pre earnings run up to around $17.30 or higher and cause a sell off if it is priced in.
$15.50 to $16 for me is the perfect buying range post earnings. I will probably open up a long position regardless of the price action actually, I'm very bullish on steel. I'm looking to see if CLF can retest the 200SMA on the 4hr if there is a post earnings dip.