FMG 0.00% $20.47 fortescue ltd

FMG Technical Analysis, page-9087

  1. 10,070 Posts.
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    unlikely green today.

    today a 29c red candle with 0c neck 60c long tail
    U shape daily chart
    yet another long higher red bearish candle today on a higher open

    opened +22c higher than prior close then got slammed down to lows now recovering to mean.
    IOP UP ignored yet again by market
    the drop below 22.00 was a bearish tester by SHORTS & they short covered back to 22.00+ making an easy 50c today

    Watch for 22.20 & 22.40 areas where resistance has built up.
    a collapse below 22.00 is imminent imho.
    22.95 high nowhere near it, bearish candles galore now.
    exdivy date approaching fast, BULL SEASON closing.

    The BEAR move may be sharp & vicious.
    SHORTS are ever present here.
 
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