another smaller wedge and smaller trading range11c lower green...

another smaller wedge and smaller trading range
11c lower green body 3c neck 2c tail so the body dominates from a lower open.

IOP not followed yet again & sold down from prior days trading range.
the ascending triangle can be a ledge down or a ledge up, its not always bullish.
It means the pressure is buidling for a move one way or another.

23.50 showing resistance several times now
market not impressed with black hole spending on hot air or african water away from the core business.
market wants to see lower debt, more production, more port berths, more refining/plants, more steel commodity diversification but its not happening.
thats right, they gave most of it away to the richest person in Oz, Gina Rhinehart through AGO for $13M profit! Nuts.

With IOP at 220, FMG should be at 33 now but nowhere near it, not even near the record high of 26.00 I called in January.
shorts are waiting for their BIG SHORT on IOP drop, but hasnt happened
longs are waiting for the SP to follow the IOP but hasnt happened

so zigzag 21.20-23.50 continues in an ever tightening range
no one going anywhere looks like.