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Steel Dynamics is setting up well for a fresh rally leg.  The stock has been consolidating in a narrow range since October 18th(earnings).  A close above the October high($68.90) could spark quite a run. 

The 50D, as in the recent past, is providing solid support.  STLD is far from overbought(daily MACD near neutral). 

On the downside, a close back below $62.00 would violate the November lows sending a clear warning sign of more consolidation ahead. 

No position. 

Not a recommendation to buy, sell or hold.