FMG 0.93% $22.41 fortescue ltd

FMG Technical Analysis, page-10911

  1. 9,764 Posts.
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    cliff face pattern on the annual deepening
    another breakdown below 24.80
    another inverted W daily chart with close near daily lows

    today it opened +25c but now sits as a higher red candle with -20c red body 3c neck 5c tail
    the higher open got SMASHED by SHORTERS AGAIN.
    my call of 24-25 breakdown SPOT ON.

    my call is a 20-22 test during BEAR SEASON till 31 Oct, long time to zig zag lower
    the prior pivots are at 19, 20, 21.50, 22.50 23.50 so this attempt to hold at 24.50 -25.00 looks doomed to fail as the prior SP pivots are below this once below 26

    SHORTS in charge
 
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