The Chinese new stimi news could barely pop the top of a VB.
Iron ore market been rolling over since reality kicked in
Monday was aggressive selling on BHP all day between $46-$46.20
Yesterday price was being held tight all day after an initial pop on low volume - from RBA 'no news is good news'.
I'd expect an expedition south of $46 in coming days if Mondays selling was anything to go by.
CBA on the other hand has had aggressive buying all week.
Yesterday did break out above the 200dMA and upper resistance.
Bulls want to see a close above yesterdays open ($100.80) for confidence this move has more to run.
Last night was last session before VIX expires - will do Wednesday morning (US time)
I'm guessing a sh1t ton of calls just expired worthless but the new contract does open the door to a much higher range if any sort of volatility steps in.
7400 still solid resistance over night for Aussie.
Next level below is 7343 then 7300.
Trade safe and good luck which ever way you trade...
The Chinese new stimi news could barely pop the top of a VB.Iron...
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