Steel returns higher - Analysis - 23-01-2017

U.S. Steel Corporation's stock returned higher in the intraday levels, scoring a profit of 0.51% in the last session, or 0.17 points, amid the dominance of the main upward short-term trend, while trading within a descending correctional price channel as shown in the attached chart, with ongoing positive pressure from the SMA for the last 50 days period, coupled with an influx of positive signals from relative power indicators.
 
Therefore we expect more gains to come for the stock, provided it breaches the resistance of 35.75, targeting thereafter the pivotal resistance of 39.14