Steel Names Await the Administration's Remedy for Domestic Steel Industry

Congressional Hearings are supposed to be held today about the Steel Industry, and supposedly, there are rumors that the Trump Administration will place import restrictions on steel.

The Model Portfolio is long AK Steel Holding Corporation (AKS).

The rounded base formation at the very low end of a major corrective (bear) leg from 11.39 to 5.30 (a correction of 54%) has the right set-up for upside breakout and continuation towards 8.00.

Certainly, positive news about the restriction of foreign dumping of steel will help the bullish case.

Stay tuned.

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