FMG 0.87% $21.71 fortescue ltd

Breakout in process Its another higher green bar with 8c body 1c...

  1. 2,060 Posts.
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    Breakout in process
    Its another higher green bar with 8c body 1c tail and 4c wick.
    Bulls testing the upper reaches.
    daily chart shows a 2 wave bull runup with shorters today at 4.17-4.14 burnt up to 4.21 daily highs
    2 year bear trend appears broken like it appeared in April-May runup 4.30 -5.00 but then bear trend resumed.

    4.30 then 4.65 is the pivot resistance as it was strong support on the way down.
    I called it correct, 4.10 was NOT the resistance point.
    close at daily highs 4.20+ will be TA bullish breakout pattern confirmation

    BB is working a treat.
    Shorts are burning.
    Last edited by Samboy69: 05/11/18
 
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