All the talk about iron price perked my interest about long term chart. When I get a chance I will draw one up. But just a quick glance, iron ore looks to be in a major wave 3 upward thrust move currently. So expect prices to shoot up to $140 at least within 2-6 months. Where we will have correction for major wave 4 and from there further upward movement for the final major wave 5. Where this final wave ends could be north of $160.
Resources tend to have blow off major wave 5, very similar to Bitcoin where the last wave upward is full of euphoria so I wouldn't be surprised if we hit $200.
That would be the time to short fmg.
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Last
$16.12 |
Change
-0.010(0.06%) |
Mkt cap ! $49.63B |
Open | High | Low | Value | Volume |
$16.30 | $16.35 | $16.00 | $142.8M | 8.831M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
7 | 18592 | $16.10 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$16.14 | 3138 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
7 | 18592 | 16.100 |
5 | 12169 | 16.080 |
4 | 78015 | 16.070 |
3 | 9520 | 16.060 |
3 | 25309 | 16.050 |
Price($) | Vol. | No. |
---|---|---|
16.140 | 3138 | 1 |
16.170 | 3000 | 1 |
16.200 | 1600 | 2 |
16.210 | 24668 | 4 |
16.220 | 1010 | 1 |
Last trade - 16.10pm 06/09/2024 (20 minute delay) ? |
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FMG (ASX) Chart |