The ArcelorMittal (EURONEXT) Analysis, Chart, and Trading Idea

#MT

The trend is ascending. The downward inner structure is truncated. There is a bullish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals the oversold state.
 

Trading idea:

Buy at the formation of the ascending wave structure, when wave (A) breaches 27.690 (pivot 2 of the wave C of the descending structure);

Stop-loss: under the local minimum of the descending structure: 27.250;

Target price levels: 28.630, 29.500.