FMG 0.93% $22.41 fortescue ltd

chart looks sick again

  1. 1,538 Posts.
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    XAO is heading down to 5500. Looks like FMG can't avoid the fall.

    6.80 - 0.818(6.8 - 5.75) = 6.15

    Chart works well as today down to 6.12. New low @6.12 has passed the lows 6.13/9 Jan and 6.15/10 Jan. The next low support wiil be 5.75.

    May drop to 5.75 again. If not hold at 5.75 then $5 is the next level.Chart shows a good support at 5.50 but may drop to 5.

    This is not my advice. I only base on chart woks. Good luck
 
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