Future Trend Analysis Report
Prepared for you on Saturday, June 10, 2023.
US MIDWEST #1 BUSHELING FERROUS SCRAP Jun 2023 (NYMEX:BUS.M23)
Sidelines Mode (+55) - BUS.M23 is moving in a sideways pattern and is unable to gain momentum in either direction. Beware of choppy movement and consider a sidelines position until a stronger trend is identified.
Is it time to buy, sell, or avoid BUS.M23?
MarketClub looks at technical strength and momentum to determine if the timing is right for BUS.M23.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for BUS.M23
The long-term trend has been UP since Dec 1st, 2022 at 430
The intermediate-term trend has been UP since May 9th, 2023 at 475
The short-term trend has been DOWN since Jun 7th, 2023 at 515
Smart Scan Analysis for BUS.M23
Based on our trend formula, BUS.M23 is rated as a +55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).