ArcelorMittal shares face stochastic positivity – Analysis – 15-3-2019

Arcelor Mittal price keeps facing stochastic positivity that is located above 50 level currently, to keep its fluctuation within the main bearish channel levels, note that the stability of the resistance at 20.10 to avoid any attempt to change the trend and expect to gather new negative momentum to decline towards 17.60 initially followed by attempting to reach 61.8% Fibonacci correction level at 15.90.

The above chart shows the consolidation of the moving average 55 above the bearish channel’s resistance, to increase the negative pressures and confirms blocking the price within the negative range until reaching the suggested targets.

The expected trading range for today is between 19.40 and 17.60

The expected trend for today: Bearish