NUE eyes on 106.54: key level for itself, materials in general

Nucor just bounced into a major fib and key level.
Even the fib-blind are now keenly aware of this line.
This is a good sentiment read on the materials sector.

Plotted here are TWO different fib series.

1) THICK lines are its GENESIS sequence:

2) DASHED lines are the COVID STIMULUS wave:

Overlaying both fibs and highlighting the confluence zones gives us the live chart above.

Commento:

Thus my respect for Pings.

Rejected from our key level and dropped EXACTLY to first fib support below

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Zoom in (1 min) at End of Day

Clean hit but barely a bounce to close the day.
I still expect a bit of a bounce next.
But this really does not look good :(

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