Here it is again the CLIFF FACE has formed
the BUYZONE is near imho
14 showing strong support
capitulation trade is here, the blowout has been achieved.
lows not seen since Oct 2021 at the BEAR SEASON lows then.
The over reaction to US tariffs is overcooked.
Already 50 countries are negotiating to drop their tariffs to 0 and allow real free trade.
FMG is barely affected by this, as their china sales will continue as usual.
China is affected as they will be forced to pay the pied piper or drop their own tariffs to match the US.
The end of globalism is here and US protectionism is nothing new.
In fact asian market protectionism has been ignored for decades esp Japan Korea China.
0% of FMG exports go to the US
Long term this will be great for FMG & OZ, the only real threat to FMG is the future chinese invasion of taiwan and resulting sanctions and that aint happening for at least 5 years now.
This is a large overreaction based on macro market factors unrelated to FMG imho.
I expect a V WHIPSAW move as market realises this will be LT good for global fair trade
and in particular for asian/US trade and will reduce the US trade deficit/US debt.
Annual lows looking like theyre here and near.
BUYZONE appearing, selling here is NUTS imho.
Trading Rule 1
BUY LOW sell high
never SELL at 4 year lows.
BEAR TRAP is here. SNAP !
FMG Price at posting:
$14.00 Sentiment: Buy Disclosure: Not Held
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