Nucor Steel Breaking Out
Updated
Nucor is a leader in the U.S steel industry. Currently economies around the globe are undergoing synchronized growth. Steel prices rise as economic activity picks up because expansion coincides with increased construction activity. Two additional bullish events that could boost demand for steel are the passing our an infrastructure spending bill and tariffs on Chinese steel. Nucor has some of the most advanced manufacturing plants and is currently breaking out after a long period of consolidation.
Note
Nucor falls below support. Watching closely for tomorrow's action...
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