🔹 Market Analysis:

1️⃣ Current Market Phase:

  • Weekly Trend: Broad range-bound movement continues.
  • Daily Trend: A mild rebound is in progress, though upside momentum remains weak.

2️⃣ International Factors:

  • U.S. CPI data came out slightly bullish, easing concerns over inflation and global tightening.
  • No major international events expected this month, reducing external pressure on the domestic market.

3️⃣ Domestic Factors:

  • Potential monetary easing: Expectations for rate cuts or reserve ratio reductions could provide short-term support to steel prices.
  • Supply-demand fundamentals: No significant imbalance yet, limiting strong directional movement.
  • Steel Union Data due today: Market will reassess fundamental pricing after the report, likely causing short-term fluctuations.

🔹 Trading Strategy:

✅ Primary Strategy: “Sell the Rallies” – The bigger trend is still bearish despite the short-term bounce.
✅ Long-Term Setup: Use this rebound as an opportunity to build strategic short positions for the next major downtrend.
✅ Intraday Strategy: Focus on selling near intraday highs, as 3350 remains a key resistance level.

🚨 Watch for the Steel Union report today—it could introduce new volatility and help shape the next major market move.

📌 Daily insights provided by LangZo Steel. For reprints, please credit LangZo Steel.