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Added 2024-09-17 23:25:44 +0000 UTCUS Steel has completely recovered from its drop from $37 down to $27 now, after it was revealed that Biden and Harris would try and block the sale to Nippon
We highlighted at the time of the drop that the US had identified just how important this company is and Nippon feel the same, otherwise their attempted acquisition would not exist.
US Steel CEO is confident that the sale will still proceed.
So many savvy buyers took advantage of the dip between the 0.618 Fib and 0.78 Fib, when the price tested the wedge bottom line.
A textbook overreaction, raid and gain, something we saw on the $PG and $ONON charts over the last few months too.
Wave 3 remains valid to the First Target at $57.
