FMG 0.74% $17.36 fortescue ltd

yes today a green candle15c higher body 12c neck 31c tailthe...

  1. 9,963 Posts.
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    yes today a green candle

    15c higher body 12c neck 31c tail
    the flat open led to drop under 1890 then V whipsaw rebound with flatline all arvo.
    meaning the lows below 19.00 were reversed back to 1930s with 1950 showing resistance again.

    a positive candle after so many bearish ones, but its still not broken out of the bearish harami zone 1900 to 1960.

    bulls need to see a breakout above 1950 & close over 1965 with bullish harami
    bears & SHORTS need to see close below 1900 & red candles or engulfed harami candles with lower low around 1880 or less

    last year big drop 7 to 21 june of 400c, might start or continue any day now.
    step down pattern might also continue.
    is this yet another dead cat bounce like fri & mondays

    next 7 days the pattern should become clearer.
    patience is a virtue
 
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