Future Trend Analysis Report
Prepared for you on Monday, December 4, 2023.
DOMESTIC HOT-ROLLED COIL STEEL Nov 2023 (NYMEX:HRC.X23)
Long-Term Uptrend (+90) - HRC.X23 is in a strong uptrend that is likely to continue. While HRC.X23 is showing intraday weakness, it remains in the confines of a bullish trend. Traders should use caution and utilize a stop order.
Is it time to buy, sell, or avoid HRC.X23?
MarketClub looks at technical strength and momentum to determine if the timing is right for HRC.X23.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for HRC.X23
The long-term trend has been UP since Oct 26th, 2023 at 843
The intermediate-term trend has been UP since Sep 19th, 2023 at 745
The short-term trend has been UP since Nov 28th, 2023 at 897
Smart Scan Analysis for HRC.X23
Based on our trend formula, HRC.X23 is rated as a +90 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).