a green candle today
31c green body 15c neck 0c tail
meaning daily lows were bought up and ran to daily highs finishing near there & stayed green all day
a pattern SHORTS HATE as they lose money all day trying to poppy cut it and cannot.
look at the flooring pattern since 20 June around 17.00
Is this a fake floor or the real deal?
10DMA has hit this floor and 20-30DMA angling flatter.
Last time in Nov this signalled a floor at 14.00 and ran to 22.
But this time we have the seasonal bear period in front of us from 1 August to 1 November & with more wars sanctions hyper inflation and rate rises coming its a bear confirmation on the macro level.
Yet IOP holding around 110 as IO & gas/oil becomes weaponised by the chinese/ruskies/iran in response to the US$ weaponisation
IOP stabilised but for how long and global IO shortages & global hyper inflation may reverse this IOP downtrend.
I would wait till 1 November to see where it bottoms out.
SHORTS got caned last 2 days so they are timing their attacks no doubt nect few months & are ever present here. Still I say -
BURN them SHORTS, BURN!
FMG Technical Analysis, page-8416
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Last
$19.54 |
Change
-0.370(1.86%) |
Mkt cap ! $60.16B | |||
| Open | High | Low | Value | Volume |
| $19.52 | $19.75 | $19.29 | $225.1M | 11.80M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2000 | $19.52 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $19.54 | 6420 | 1 |
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| Last trade - 16.10pm 18/10/2024 (20 minute delay) ? |
| FMG (ASX) Chart |