FMG Technical Analysis, page-188

Hit that 4.90/5.00 support level as predicted by me and @sohoisnotforsale.

There it is, the double rounding top pattern 5.00-6.00-5.00 is now completed. The selling momentum is too strong right now.

So much for 6.50 by 22 sept LOL!
As I said 5.00 more likely.Today the cliff face just got 9c deeper and a large 10c red body bar 1c wick and 3c tail, meaning the shorts wanted to hit that 5.00 and then cover as it bounced off there intraday twice today. As predicted the 5.30 nor 5.15 didnt hold at all.
The cliff face looks terrible and the red bars with tails are worrying still.

Very bearish trend, if 5.00/4.90 doesnt hold then its back to base level of 4.65 the annual lows.

Im not a buyer until we see a reversal of this trend. As I said a few weeks back at 6.00 the shorts are in charge. Now its 5.00 and I would think 4.90/5.00 may not hold as the steam train selling has built mass momentum toward 5.00 with high volume.

Dont catch the falling knife, we have seen this in FMG many times. The short interest is massive.
Wait for the knife to embed and wait for confirmation of reversal of this bearish correction.
Going below 4.65 would signal continuation of the prior Feb bear trend. Cant see it holding at 5.00 as this would signal a reversal of trend.

The lows on this current chart should be 4.00-4.65 again, we will soon see.