Quotes of United States Steel continue to move within the framework of growth and have left the limits of the downward channel. The moving averages point to a short-term bearish trend for United States Steel. Prices are testing the area between the signal lines, which indicates pressure from sellers of securities and a continuation of the fall from current levels. At the time of publication of the forecast, the value of the shares is 21.23. As part of the forecast, we should expect an attempt to develop a correction and test the support level near the area of 18.55. Further, a rebound and continued rise in the value of securities. The potential target of such a movement is the area above the level of 26.05.
United States Steel Forecast and Analysis July 29, 2022
An additional signal in favor of the rise in United States Steel quotes will be a test of the broken trend line on the relative strength index (RSI). The second signal will be a rebound from the upper border of the descending channel. Cancellation of the growth option for United States Steel stock quotes will be a fall and a breakdown of the level of 16.00. This will indicate a breakdown of the support area and a continuation of the fall to the area at the level of 12.35. It is worth expecting an acceleration of the rise in shares with a breakdown of the resistance area and closing above the level of 22.35.
United States Steel Forecast and Analysis July 29, 2022 suggests the development of a correction and a test of the support area near the level of 18.55. Where should we expect a rebound and an attempt to continue the rise of the pair to the area above the level of 26.05. In favor of the growth of the currency pair, a test of the trend line on the relative strength index (RSI) will come out. Cancellation of the United States Steel rise option will be a fall and a breakdown of the level of 16.00. This will indicate a breakdown of support and a continuation of the fall in value to the area below the level of 12.35.
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