Market Segment
August 10, 2023
HRC Futures: Following the Charts
Written by Dave Feldstein
The last article I wrote on Thursday, July 13, pointed to the surprising rallies in the August and September futures, while noting the August future trading to just below its multi-year down trendline. It just so happened that July 13 was also the top for the August future, which has since plummeted $177. Basically, it did a roundtrip from $800 to $995 and back again. Indeed, it is far better to be lucky than good. There was nothing mystical about it. I was simply following the charts. So let’s get technical once again and see what the charts are telling us today.
August CME HRC Future $/st
