FMG 0.46% $21.52 fortescue ltd

FMG Technical Analysis, page-11335

  1. 9,783 Posts.
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    not looking good, TA is blaring RED signals on many parameters

    another red candle -11c
    another lower open -15c
    another unsupported neck 15c
    another breakdown below the 21.50 pivot thats been in play for 5 years now up and down

    CLIFF FACE continuation headed toward 20-21
    big sharp drop since annual highs, a whopping 850c lower now,
    now sits with a double mountain top in Jan on the annual chart, I was correct this was the SELL ZONE

    My correct call in Feb of a drop to 20-22 SPOT ON.
    now 21.41 close on ASX ChiX even lower at 21.33
    8 month low

    writing is on the wall
    will 20-21 hold or will the SHORTS test the 2023 lows of 19.00? We will soon see.

    I expect the SHORTS to play this in a zigzag like they did the last 5 years around this time to sux in the BULLS into the BULL TRAP again and again and again to sweep up their cash easy,
    Normally the annual lows hit in July, Sept or Oct here.
    wait for the lows, reversal candles and flooring pattern, it happens every year.

    BULL TRAP SPRUNG.
    Shoulda taken the money at 29 toombs like I told ya.
 
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