FMG 2.21% $19.41 fortescue ltd

FMG Technical Analysis, page-7610

  1. 10,117 Posts.
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    Another green reversal candle with tight range with long tails
    4 of these in 5 days
    11c body 2c neck 25c long tail again

    a sure sign of a bottom flooring pattern
    the daily lows swiped up yet again, trading above the opens
    daily chart a 2 wave up pattern from lower open
    the lower opens hurting the day trading shorters.

    daily shorters burning, cant make any gain at all.

    14.00 bottom holding as I called it.

    IOP at 115 is way way good for FMG FCF still,
    its not 230 but its not 40 either & FMG in way better position now than before just the debt hasnt been slashed as it should have been the last 2 years of boom time.

    In any event, the SHORTS are BURNING.
 
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