FMG Technical Analysis, page-187

Ive been talking of the cliff face for weeks,
Can you recognise it now??? Is it now obvious and visible?

The cliff face just got another 5c deeper today and with a 3c tail to 5.09 a 4c red bar body & 3c wick
The daily chart shows a 3 wave shorting attack and the opening yet again was sold off badly but the close was rather flat and was lucky to close 5.12 rather than 5.10.

The monthly and annual chart look terrible, looks headed to 4.90 quickly to complete the double rounding top pattern I mentioned weeks ago. The cliff face has no end in sight yet. So I stay out.

As @sohoisnotforsale & I said 4.90/5.00 is the next support then 4.65
As I have correctly called the tops at 7.00-7.50 & again at 6.00 then I will now try to call the bottom point.
I said before it may be 3.00-4.50 but now think its at 4.00-4.65 well above the prior lows before this year.

The action around 4.65 this year showed very strong support but dont know if that can hold with this action. We have to wait & see remembering FMG is a heavily shorted stock and the shorts are in total control right now and making a mint yet again. Wait for the cliff face pattern to end.

Dont catch the falling knife. Wait.