FMG Technical Analysis, page-8459

Whilst I concede charts aid to visibly show timeline trends and are a good barometer of what may lay ahead, they are primarily effective when core business remains mostly the same and variables are clear and measurable.
Todays share price movement is in my opinion in the main due to the passage of US Climate bill (51-50) in the US Senate. I suspect the FMG share price is beginning to reflect some value for it’s drive toward carbon neutrality by 2030. For this theory to be the case it should deliver a strong FMG price in the US market tonight regardless of IO Pricing.
I am looking forward to the many announcements either by FMG or countries enacting laws to recognise the need for further investment and concessions in renewables.
I am also keen to see how short sellers cope with announcements and initiatives that fall beyond the simplistic chart transacting based on the IO price of the day, sadly (TIC) we may see some short sellers being trapped by their own traps.