Trading idea for ArcelorMittal (EURONEXT)


Technical reviews

The overall trend is ascendant. The descending structures of the H4, H1, and M15 levels are truncated at the moment. Awesome Oscillator shows a bullish divergence, and Stochastic Oscillator indicator signals oversold conditions.

Trading idea:
Buy when an ascending wave pattern is formed, where wave (A) breaks through the inclined channel of the downward truncated structure.
Stop Loss is under the local minimum.
Target levels: 29.12; 29.72; 30.70.

Author: GC
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