the 1450 and now the 1500-1600 areas as the 3 year lows and annual lows have been holding for now
I dont see any case for that to crack unless china invades taiwan or IOP goes down from 100 to 60
And I dont see that happening under this US administration at least till 2030now.
and IOP is solid and still good margins. Its tracked 100-110 for months now so low volatility atm.
and chinese steel exports globally have been booming, way up on 10 years ago
Trump & Xi actually do have a decent relationship and will & have done a fair deal on tariffs
55% v 10% doesnt seem fair to china but they do get a massive $700Bpa budget surplus from the USA so its nothing to them really.
Its all about controlling or managing the US deficit and the USD$ collapse.
Bear season is normally June - October so its quite long and normally theres a DCB bounce AROUND July
and SHORTS are ever present here
I cant see this buyzone range of 14-17 breaking down for now or the annual highs of 23-27 not hitting during bull season again.
but never say never.
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