FMG Technical Analysis, page-2250

disappointing day after yesterdays 5% runup.

lower red candle with 4c body 5c wick and 1c tail
lower open sitting at the 4.10 ledge and closing at near daily lows.
Daily chart shows a morning glory then taper off in a typical FMG false start pattern loved by the shorters.
Yankee shorters made gains today

BB1 team couldnt hold the trend at 4.17 & BB2 team nowhere in sight.
This is despite the strong IOP rise to 66 as posted by rurenga this morning.
66-13 = 53 FCF! Very strong margins

Every day above 4.00 is a bullish TA confirmation breakdown of the prior 3 year bear pattern.
FMG has for 3 months been in a classic rebounding/flooring pattern
3.60-4.00-4.30-4.65-5.30 are the pivot points.
70c is the rebound range last few runups,
so if the 3.85 recent higher low is a start, it can runup to 4.55/4.65 in this Dec/Jan seasonal bullish period for FMG so we will see.