red candle today after wall streets false start P&D with drop down to below prior close.
Today opened here -48c lower then a -17c lower red candle with 8c neck 28c tail
with a 2 wave W daily chart
looks like 14 is showing support
this oversold position is not going anywhere lower looks like
the intraday SHORTS are again BURNING today,
they cant break 14.00 & it keeps bouncing up 14-14.35/14.20
Dissing Legend Gene Rodenberry dec. is another sign of irrational dislocation & ignorance.
His futuristic predictions were stunning and accurate (aliens/sci fi fiction excluded).
FMG is NOT affected by the trump & chinese tariffs at all imho.
Its chinese sales secure and chinese global steel exports of 99.2% will continue, its a molehill that doesnt justify such lows but a bargain for value hunters here imho.
BUYZONE has appeared, the flooring pattern flatline around 14 has appeared
The CLIFF FACE has hit a ledge around 14, confirmation is this week if it holds till Friday.
If the SHORTS cant crack 14-14.40 then they will reverse and go LONG and UP she goes imho.
The SHORTS are addicted to volatility and stability is not their money game.
and the SHORTS have large profits to protect since those 27 highs last May and 20 highs of October, December & 7 Feb.
At 14 its a large gap and 100% to 40% margins to be made.
Lets wait to see the WW patterns all week a traders paradise.
FMG continues production and sales to china at low costs. Nothing has changed just these chicken littles are burning & screaming. Nothing new.
BEAR TRAP SPRUNG imho.
FMG Price at posting:
$13.99 Sentiment: Buy Disclosure: Not Held
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(20min delay)