Currently, we observe relevant movements in the price of Arceormittal, with increases in the surroundings of 4%, to 27.85 euros per share, a key support that was already put to the mid -July, when it reached the 27.88 euros per share. If the alerera manages to consolidate above this level, the following objective could be the resistance located at 28.19 euroswhich has acted as a roof since last May.
We will have to be attentive to whether sustained closures are produced above that area, since this would open the door to Arceormittal to a possible attack at the July resistance level, located at 29.59 euros per share.
In summary, we are in a technical area of great relevance, very close to resistance that have been worked in recent weeks. The challenge for Arceormittal will be to confirm closures above these levels of resistance so that they can become supports, something that did not happen clearly during the last July, when the price suffered falls towards the end of the month, specifically on days 29 and 30.