US Steel (X), upward momentum testing for breakout
US Steel,
Previously noted as a range bound trade.
It nearly full-spanned the previous range, so good for one
trade. All previous positives still remain in place.
Good OBV breakout now, vs. 4 previous tests at this
level, RSI and Fisher also still point north and respected
the previous uptrend support levels. It could breakdown north,
has stronger volume on this move up. Has China or US turned
the corner? Or do we setup for a bull trap against the
160/200 MA, or long-trend down slope ~@$21 level, then back
down to $17 level.
Previously noted as a range bound trade.
It nearly full-spanned the previous range, so good for one
trade. All previous positives still remain in place.
Good OBV breakout now, vs. 4 previous tests at this
level, RSI and Fisher also still point north and respected
the previous uptrend support levels. It could breakdown north,
has stronger volume on this move up. Has China or US turned
the corner? Or do we setup for a bull trap against the
160/200 MA, or long-trend down slope ~@$21 level, then back
down to $17 level.