Iron ore price, page-3073

Something is afoot here. We are coming off the Wkly overbought However, monthly we are significantly oversold. So a little pull back still to play out before any real commitment. Sit back relax and let the base form.

Momentum price support range is 1.7-1.2c so quite a lot of volatility to overcome first. Need to see Momentum price support get to 1.4c min that should provide significant push.

I work out momentum (mom) support ranges by taking the low in mom and the closing price at the level. We have a mom low at 1.3c on 23rd June. Mom has been steadily increasing from support of 0.007c since then. Rising to current level of 0.012c. Pushers like that have a good probability of continuing to play out.