The only "proper" IO chart I can flip is the NYMEX IO future. 63.88 is the level I have marked as a potential support. It seems to be holding based on yesterday's price. However the odds are stacking against the bulls since it is only trying to reverse off the lows. FMG sensitivity to the Fib 38% was remarkable strong for the previous 2 weeks but seems to be succumbing to the Chinese growth tapering off speculation.
The 2 weekly pin bars would have built up some bull stops being raided this week. I was looking for an entry investment on a longer term hold circa $5 psychological number with some weaker support technical. I held back especially since we are just going into tax loss selling cycle. Looks bearish to be in the current pullback.
Iron ore price, page-1234
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Last
$16.20 |
Change
-1.500(8.47%) |
Mkt cap ! $49.87B | |||
| Open | High | Low | Value | Volume |
| $16.25 | $16.35 | $16.07 | $242.4M | 14.94M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 16 | 31685 | $16.20 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $16.22 | 100 | 1 |
View Market Depth
| Last trade - 16.10pm 04/09/2024 (20 minute delay) ? |
| FMG (ASX) Chart |