Cliffs Natural fades From The Intra-day Highs. Watch This Support Level

Apr. 01, 2011 10:59 AM ETCLF

183 Followers

Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Seeking Alpha Analyst Since 2009

InTheMoneyStocks.Com is a research and consulting company focused on mathematical proprietary techniques along with a key understanding of price, pattern and time. Through understanding geometry and other technical analysis methods, InTheMoneyStocks.Com prides itself on avoiding Wall Street hype while calling major and minor moves in the DOW, NASDAQ and S&P, commodities, currencies and stocks. Mission Statement: Our goal is to provide accurate and precise market guidance without the Wall Street hype.

Cliffs Natural Resources Inc.(NYSE:CLF) has faded from its intra-day high this morning. The leading iron ore pellet producer may trade inverse to the U.S. Dollar Index, therefore, one eye must be kept on a U.S. Dollar Index chart at all times. The next important support area for CLF looks to be around the $98.00 level.

InTheMoneyStocks.com

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Recommended For You