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    June 13, 2019

    HRC Futures: There Looks to be a Rally on the Horizon, Might Be Time to Get Opportunistic

    Written by David Feldstein

    The following article discussing the global ferrous derivatives markets was written by David Feldstein. As an independent steel market analyst, advisor and trader, we believe he provides insightful commentary and trading ideas to our readers. Note that Steel Market Update does not take any positions on HRC or scrap trading, and any recommendations made by David Feldstein are his opinions and not those of SMU. We recommend that anyone interested in trading steel futures enlist the help of a licensed broker or bank.

    Without hesitation, the rolling 2nd month CME Midwest HRC future (HRC2) blew through any support left at $585 trading down to $550. The next support level looks to be $485. It might be time to get opportunistic.

    David Feldstein, SMU Contributor

    David Feldstein

    SMU Contributor David Feldstein is president of Rock Trading Advisors. David has over 20 years of financial market trading experience and has been active in the ferrous futures space since 2012. Feldstein earned an MBA from the University of Chicago Booth School of Business with concentrations in economics, statistics and analytical finance. He can be reached at davefeldstein@gmail.com.

    Read more from David Feldstein

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