27.05.2014 - The price of Commercial Metals Company has left the triangle

The price of the company Commercial Metals Company has broken through strong support level of 18.50, which is the lower boundary of the triangle that was formed since February. At the moment the price is trying to gain a foothold below this level. In case of success, the price will continue to decline to levels 17.00 and 16.10. We recommend opening short positions with a stop above 19.00 and expecting lower price in the medium term.

Nearest resistance levels: 19.20, 19.75, 20.20

Nearest support levels: 18.20, 17.00, 16.10

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