No downramping here now, im just tech analysing it as I watched FMG for many years
Technical damage done yesterday reversed today,
higher green bar with 6c wick 11c body, bullish pattern
solid 3 wave daily rise pattern with a selloff at close 605 to 601c
The potential rounding top pattern has been reversed from 550c into a solid rise pattern in the space of 9 days but the closing selldown may mean shorters may try to sell it down from these highs as last time it was sold from 600 back to 580
Since June looks now like a rerate rising pattern with many short sellers trying to keep it down hence the volatility daily. I said before the bottom may be at 4.60 if that didnt hold maybe lower but now that 5 month bear trend Feb-June has been soundly smashed, so could go back to 5.80/5.50 or rebound to highs of 7.00 again if IOP stays high.
So yeah I got no clue.
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