Has anyone noticed that the market seems to know the iron price in advance for 24 hours but no longer?
Last Wednesday market had an up day Iron Ore Price was up and yet RIO & FMG were unmoved. Then sure enough on Thursday iron ore went down. By Friday though it was up and those who did not buy on Wednesday would have been better of if they had bought. I have noticed this a few times, certain traders can predict the short-term, under 24 hours price of iron ore but nothing further.
Has anyone else noticed this trend (not explained by futures pricing either) and am I missing something or has now one else noticed this pattern.
Iron ore price, page-16967
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Last
$17.97 |
Change
-0.360(1.96%) |
Mkt cap ! $55.32B | |||
| Open | High | Low | Value | Volume |
| $18.10 | $18.28 | $17.97 | $250.7M | 13.82M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 104054 | $17.96 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $18.07 | 4370 | 1 |
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| Last trade - 16.10pm 23/08/2024 (20 minute delay) ? |
| FMG (ASX) Chart |