Steel Price has been rallying a downtrend on a zigzag pattern.
The wave C has extended almost to 2.62% of the A wave.
Yet the trend is not over.
Wave C has an extended third wave.
In that third wave, the third smaller wave must be extended and has not yet reached to that point.
I kindly request those well
Mandi long at undeceive stage Here Mandi steel long chart is near to multiyear support zone.
Circle mark A: It has drifted bellow support and bounced back.
Circle mark B: Market bounce back above support and sustaining.
Technically both has equal importance, any of one will decide the fate for medium term.
Steelsteel has done more than 70% of price correction
this correction was an anomaly that might have been due to corona virus epidemics
I say so because price usually does not break through the red ichi cloud
it is expected that the price enter a period of time correction in the form of any compressio
The Mighty SteelSteel is hiding below the huge green mass of an ichi cloud whose leading span A & B are nearly on the verge of crossing one another.
that signifies that it may take another 2 to 3 years for it to gain momentum to rise past this area of crossing.
I think the price may not see further correction but i
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