Chart originally created in May and now pictured with current price. When first posted it had just hit resistance and appeared bearish, along with a divergence in the RSI.
It appears Steel has reached an area of overhead resistance and at a quick glance one may assume it's ready for a break after temporary sector distortions due to covid and supply issues that plagued many sectors. We also know there are pressures from "cost inflation" as well that plague mines, as well as builders but it seems too early to tell if price will turn...
ExP has seen tremendous growth in a nice upward channel however, there are major headwinds that can really challenge the market that is already suffering severe supply/demand issues.
If exp does not hold the lower channel support and breaks down from there, my point and figure chart shows a bearish price objective $9.
Keep your eyes on that support line! It...
