TA does predict the future and very well actually.
It has correctly predicted this drop and bear season 4 years in a row.
today another long red candle with -51c red lower body and 1c neck 16c tail after a -9c lower open
meaning the lower open kept going lower & ignored the higher IOP at 129, red flag
The BEARISH HARAMIS proven correct and now its again cracked below the 22 support where it has traded since Jan for 2 months. Breakdown of 22.00 I called a while back.
I have warned several times that this is the exit ramp for BEAR SEASON & the 2 runs past 23.00 were an aberation and and exit point for short traders & pivot for the SHORTS entry.
BULL TRAP I called months ago.
March historically shows a crackdown and continued drop down to July & Oct lows but its late this year.
Sentiment BEARISH
many bearish candles appearing & ignoring IOP rises, red flags.
21.50 not holding either, looks headed to 20.00 interim
last year the low was at 14.70
Don't catch the falling knife. SHORTS are in CHARGE today and yesterday
its a BULL TRAP imho.
FMG Technical Analysis, page-9226
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Last
$20.35 |
Change
0.210(1.04%) |
Mkt cap ! $62.65B | |||
| Open | High | Low | Value | Volume |
| $20.41 | $20.76 | $20.26 | $183.4M | 8.943M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 2123 | $20.34 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $20.36 | 4581 | 2 |
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| Last trade - 16.10pm 26/07/2024 (20 minute delay) ? |
| FMG (ASX) Chart |