FMG Technical Analysis, page-38

Well well well,

As I said last night
"but we have seen this break down from 5.37 back to 4.60 from 23 may to 23 June already and may happen again from here."

triple top of 5.37 couldnt hold or be passed yet again, some bad news and its dumped like HS by the shorters and longs pulled away and let it drop away. The bad news on native title over Solomon Hub may take years and extra royalty payments ie higher costs for royalties and legal fees but why is it such a surprise? I mean this was native occupied desert land for thousands of years.

Worse still on technicals, this is a lower solid red bar 18c body 5c tail 5c wick, the longest we have seen for some time all in the days after IO price has moved up strongly. The last hour was a bloodbath today.

The natives, lawyers and public servants are loading onto the FMG gravy train. Get used to it.

Expect 4.60 again? Bear trend may resume below 5.00 again unless IO price rises more dramatically.