Future Trend Analysis Report
Prepared for you on Saturday, August 20, 2022.
DOMESTIC HOT-ROLLED COIL STEEL Nov 2022 (NYMEX:HRC.X22)
Long-Term Downtrend (-90) - HRC.X22 is in a strong downtrend that is likely to continue. While HRC.X22 is showing intraday strength, it remains in the confines of a bearish trend. Traders should use caution and set stops.
Is it time to buy, sell, or avoid HRC.X22?
MarketClub looks at technical strength and momentum to determine if the timing is right for HRC.X22.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for HRC.X22
The long-term trend has been DOWN since Jun 7th, 2022 at 910
The intermediate-term trend has been DOWN since Aug 17th, 2022 at 845
The short-term trend has been DOWN since Aug 15th, 2022 at 890
Smart Scan Analysis for HRC.X22
Based on our trend formula, HRC.X22 is rated as a -90 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).