For most of 2017, Steel Dynamics $STLD has been consolidating between roughly $32 per share and $40 per share. The weekly chart shows that there was a prevailing bullish trend going into this 2017 consolidation, and a bullish continuation swing at the end of the year. STLD Daily Chart(click to enlarge)Correction:- After the bullish breakout, price came up to $48/share in January.- Then, at the end of the month, it fell, along with the general equities market. - If price continues to retreat, I think we should monitor the 38.50-40.25 area for support, especially if the weekly RSI retreats back to around 50. - I think from this area around 40, we can expect another rebound back towards the 48 area.