FMG 4.63% $17.32 fortescue ltd

FMG Technical Analysis, page-11455

  1. 9,860 Posts.
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    Its SHORT folly to be looking at the 50% FIB retrace imho
    The real one to look at is the 61.8% FIB.

    also the close was 29.88 on 31 Jan not 29.95

    "The key Fibonacci retracement levels to keep an eye on are: 23.6%, 38.2%, 50.0%, 61.8%, and 76.4%. The levels that seem to hold the most weight are the 38.2%, 50.0%, and 61.8% levels, which are normally set as the default settings of most forex charting software."

    so that makes it 18.47
    Its SPOT ON there now at 18.20-18.60 where we have seen 4 x rebounds and support shown up at this area.

    if youre waiting on $14.98 to hit during Sept/Oct CRASH SEASON then thats quite rich and SHORTS would love that but I never predicted that low at all and wont now.
    at 27-29 I was abused for calling 20-22 annual lows now its 18.30,

    So do you want to criticise & abuse me for not being bearish enough now, LOL.

    BEWARE SHORTS, the clock is ticking. FMG is volatile and doesnt stay low for long.
    BURN them SHORTS, BURN !
 
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