Is it time to buy ArcelorMittal?

The falls of the last few weeks in ArcelorMittal brought the company’s share price close to the support of 26.50 euros.

At these prices, it presents an important level of support and it seems very likely that we could eventually see a sign of strength that makes us think of a return to buying. The increases we are seeing on Tuesday seem to show the strength of this level of demand.

A close above 28 euros would be the signal that would make us think of an upcoming attack on the key resistance at 29,715 euros.. If it also manages to overcome these prices, it is very likely that we could end up seeing an extension of the rise to around 33 euros, the highs of 2022.

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