FMG 4.40% $21.97 fortescue ltd

FMG Technical Analysis, page-9375

  1. 37,269 Posts.
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    Wow, gapped up and blasted though the 50dma to close near the daily high.

    Would like to see 3-5 days of consolidation above the 50 dma to drift sideways back into that strong up trend channel.

    I don’t think it can be just iron ore driving recent gains … markets have been more settled … US markets seemed to like PCE inflation reports out last night … maybe FFI projects announcements are not too far away?

    https://hotcopper.com.au/data/attachments/5168/5168427-0df8da9a11adcf274108169924b59566.jpg


    Dex
 
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