XJO - Bear Posts only (Factors which might cause the markets to fall), page-5717

I am still cautious on that area. Steel needs to show signs of life and that recent drop without a massive push highlights to me that its not an area to get into just yet. I think it is still based around the rumour of zero Covid dissolving in China and still falsely spreading.

You might be right for a small trade though as the last drop in July did have a bit of a reversal higher although it didn't last long.




FMG has pushed up over the last 6 trading sessions but I expect a pullback is more likely. The bar today was very weak and Friday seemed like a selloff after a spike. Similar pattern now as to early July just fewer bars.

I add that the trend to me is still down.

Best of luck if you go long.