Commodity Channel Index indicator is the "best" predictor for FMG and it came up as a SELL signal on Wednesday.
Based on that turning point Fib time analysis is telling me that TODAY is an "event"....likely to form a low...quite obviously.
From the uptrend on May 21 to the peak...Fib 62% is at $10 which provides support. Today is NOT OVER and a close on $10 or above would be positive.
Failing that I have $9 at Fib 100% retracement...in essence all those who bought at $9 have sold on the way down.
I am not holding...sold on my signal but awaiting confirmation the downtrend is complete. I have no idea how to post a chart here....sorry!!!
Good luck to all holders...wherever it finishes up...in time it will rise...the world needs iron ore and lots of it!!!!!
Cheers
Mark
price, page-19
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Last
$21.32 |
Change
0.110(0.52%) |
Mkt cap ! $65.64B | |||
| Open | High | Low | Value | Volume |
| $21.24 | $21.50 | $21.07 | $99.18M | 4.655M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 17454 | $21.31 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $21.35 | 336 | 1 |
View Market Depth
| Last trade - 16.10pm 24/07/2024 (20 minute delay) ? |
| FMG (ASX) Chart |