ago tipped for 2014, page-34

Problem we face imo, is that no one really wants to be long on iron ore.

AGO is trapped as trading stock for the corporates and hedge funds. Hence the shorts. Advance and decline patterning, shorts making maximum gain at this point, which could mirror mid August down leg action.

Green horizontal line 38.2% fib
Orange line is 50.0% fib
Red line is 61.8%

First supporting trend line broken, second support is at 1.02.

The 1.02 vicinity really needs to hold, otherwise ugly will have a new meaning, imo it shouldn't get there today.