ari pre-xmas chart, page-3

Hi JG,

ARI & the Iron Ore sector stocks generally have been remarkably resilient against a weak overall market recently.

Here's the Full wrap FWIW.

ARI Vs XJO (S&P ASX 200) comparison chart - XJO in Grey
The XJO has been considerably weaker than ARI recently.

and against the XMJ (Materials Sector) - XMJ in Grey
The Weakness in the Gold sector (in particular) has dragged the XMJ lower in the short term.

Iron Ore Sector Index 3 Hour
Volume appear to be coming in to support the Index

Iron Ore Index Daily
Holding this level well so far

ARI S/R Chart Daily
The Big Strong upbar (arrowed) appears in control.
A break of its low would be a ST sell indication @ $1.52
Holding this level nicely so far.

ARI Levels Daily

and finally the ARI ST Wave Chart
Which shows the 'force' of the short term buying and selling waves.
The most interesting thing is the cluster of closes all around the $1.58 recently, which suggests absorption of supply coming in from the left (though unconfirmed as yet).

So for me it is a hold if you are already long.

Merry Pre-Christmas

cheers