Thursday, July 31, 2014

Breakout in US Steel: X

Is it possible that US Steel (X) is finally catching a bid from a breakout (and reversal pattern) from a long-term resistance level?
Could this be the start of a new long-term uptrend in price?
Let’s take a look at the Weekly and Monthly Chart to give us some clues for a longer-term play.

First, let’s start with the long-term “Rounded Reversal” or Saucer Reversal pattern that has developed since mid-2011 to present (mid-2014).  (more)
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