Wednesday, 21 November 2018
Steel: 21 November 2018, Wednesday, 4.59pm Singapore Time
21 November 2018, Wednesday, 4.59pm Singapore Time
(Click on Technical Chart above to Enlarge)
Attached is the Technicals for Steel. The Green Circled Region is my live fore-warning back in 2016 that Steel prices would rock bottom in 2016 and that the region will be the launch of Secular Cycle Wave Up, especially for hard commodities such as Steel and its supplementary association -- Coaking Coal. Steel rallied after my buy call point. In end-2017, it made a defining pivot at 4750 Yuan per MT. In entire 2018, Steel was supposed to be one of those commodities to be hit by the so called infamous "Trade War" between US and China, but 95% market herd did not even realise that Steel Prices were unaffected at all -- not even the slightest pinch of ant's bite. Current Economic Cycle's Minimum Target Price for Steel is 9500 Yuan per MT (refer calculations on chart). The Expectation Target Price is 14,250 Yuan per MT. This marks a +633% returns from my buy point and +317% from current point). Bullish on Steel and Steel Stocks.