Cleveland-Cliffs Inc (NYSE: CLF):
15 January 2018, Monday, 8.00pm Singapore Time
(Click on Technical Chart above to Enlarge)
Attached is the technicals for Cleveland-Cliffs Inc (NYSE: CLF), an industrial metals and minerals stock that is listed in the US Market (NYSE). Note that this is in line with my 2H-2016 and 1H-2017 fore-warnings to scoop up metals and metal company stocks at the cheap because US will be re-starting its manufacturing engine and infrastructure engine. With China's One Belt One Road also in play, metals, industrial metals and minerals will experience a high demand. In addition, now that commodities' winter is over too (refer to attached CRB Index Link), all the factors summed up means that this stock will soar and roar impulsively. Technicals as illustrated on chart: the stock experienced large double bottom accumulation. This is currently followed by a deliberate breakup of double bottom resistances with high volume. Immediate fast target is $11.05. However, because of the long term economic dynamics as explained earlier, expect at least +100% profits from this quality stock.
Important in-depth cross reference to commodities' technical analysis is as attached below too (Reuters-Jefferies CRB Index).
Important in-depth cross reference to commodities' technical analysis is as attached below too (Reuters-Jefferies CRB Index).
The Donovan Norfolk Technical Rating:
Highly Bullish
(Strong Buy)
Important Cross-Reference:
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