FMG Technical Analysis, page-11707

Plateau phase has appeared on the monthly chart
Flatline 28 Feb to today at annual lows & 3 year low points

last time this year we were hovering at 25 & approaching the 20 May peak of 27.00 now a whopping $10 less.

SHORTS have had their meal and made good profits here.
But now its going nowhere and so if it cant go lower a rebound and SHORT squeeze will ensue as usual.

SHORTS are losing money here
They have to cover and go LONG sooner or later
some positive news is overdue. FMG is still making large margins.

16 to 26 is a good money maker imho.
But cant see it doing this soon
Target is 20.00 recovery pivot as in September.

The market has way overreacted to the tariffs imho which dont affect FMG much at all or its china sales, if anything china steel will become cheaper and more sought after compared to US IO & steel.
This gives an incentive to avoid the USA tariff trade & to buy MORE Oz IO.
The chinese steel products exported to the US will simply go up in price and the volume will reduce and exported steel products to nonUS customers will increase.
China will end up paying the tarfifs to the US for their steel exports as before as they are still making a fortune on margins and making $500B annual export surplus on the US which may reduce to $200B, thats still massive.

The real concern was the Chinese invasion of Taiwan which now wont happen under Trump/Xie which would lead to sanctions and IO boycots on china blocking all FMG china revenue overnight, that can is now kicked down the road for a while and so its business as usual in reality.

Its much ado about nothing imho.

FMG is looking like its readying to rebound as SHORTS are BURNING here on this lowball flatline.
My call is a rebound is upcoming and world peace.

BURN them SHORTS BURN !