United Steel emits more negative signals - Analysis - 02-06-2022

United States Steel's stock (X) declined in the intraday levels, amid the dominance of the downward correctional wave in the short term, with negative pressure from the 50-day SMA, coupled with positive signals from the RSI, after reaching overbought levels, hinting at negative divergence, with the stock marking a loss of 0.28% in the last session, or 2 cents, settling at 25.00, with trading volumes surpassing 12.6 million shares, below 10-day averages of 13.1 million shares. 

Therefore we expect more losses for the stock, targeting the important support of 22.81, provided it settles below the resistance of 26.17. 

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Expected trend for today: Bearish