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Sorry the first chart appears twice in my last post. Must have...

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SilentO

777 Posts.

11/09/14

21:26

Post #: 13962162
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Originally posted by SilentO ↑

For anyone who might be interested in the progress of the Dalian iron ore most active futures contract. It is showing some signs of turning. Second chart below is the same as the first but gives a truer representation of the shape of the curve as the horizontal axis is set as trading days rather than date (where you get the non-trading days stretching and flattening out the shape of the curve). The third chart is the average of the open, high, low, close and settlement prices shown against trading days. Yesterday's low would have started to get some hearts racing for potentially bigger falls. Seems to have reversed itself.

My rate of change chart (not shown) is a bit ambiguous on whether this could be the start of a major of minor turnaround. On the balance of probabilities I think it could be the start of a minor upwards correction.

SilentO

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Sorry the first chart appears twice in my last post. Must have double clicked or something.

SDL Price at posting: 8.3¢ Sentiment: None Disclosure: Not Held
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0 Great analysis

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