Steel Sector Strengthening

Since mid-March steel Market Vectors Steel ETF, SLX, is bouncing off the oversold territory. Now it is approaching the resistance from the down trend-line from the double top made in December. The major holdings of the ETF are: Rio Tinto (RIO), Vale (VALE), Arcelor Mittal (MT), Posco (PKX). Nucor (NUE) and Reliance Steel (RS). All are showing similar…

Rising From The Dead – French Industry

Monday, March 24th 2014, is the day for European Flash PMI. The data for March show that services and manufacturing sectors in France are expanding while contracting in Germany. The French flash Composite Output Index rose to 31-month high of 51.6, up from 47.6 in February and above estimates. Services sector expanded for the first time and…