Steel tries to recoup some losses - Analysis - 22-05-2017

U.S. Steel Corporation's stock (X) rose in the intraday levels, scoring a profit of 2.19% in the last session, or 0.42 points, as the stock settles below 19.78, representing the ratio 61.8% of Fibonacci retracement levels for an ascending wave in the short term (from 6.15 to 41.83), with negative pressure from the 50-day SMA, as the stock tries to recover some past losses. 

Therefore we expect the stock to return lower, as long as it settles below 19.78, targeting the next support at 14.57, representing the ratio 78.6% of the same retracement levels.