FMG 1.93% $21.67 fortescue ltd

FMG Technical Analysis, page-10779

  1. 9,757 Posts.
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    Another horrid daily chart
    an L shape daily chart loved by SHORTERS
    the higher open got smashed down all day into close too
    another long red candle
    another bearish daily pattern

    rounding pattern formed on the monthly chart 28-30-28
    double top now clearly visible on the annual chart

    today a -37c red body with 12c neck 10c tail closing near daily lows

    another lower low close below 28.30
    close below 28.00 would make TA damage to the bull case.
    SHORTS looking for 26 & less imho
    SHORTS will run this down if it goes below 28 imho
    BEAR SEASON impending (started in Feb last 4 years) if not already started since 5 Feb.

    SHORTS in charge again.
    Warning signs again.
 
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FMG (ASX) Chart
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