FMG Technical Analysis, page-9736

wrong again @irynka

That long red bearish engulfing candle is an omen. A marker for further falls.
and today proven correct as i called it yesterday

today opened -30c lower than prior close and then kept going down ending as a -8c lower red body with 19c neck long 30c tail
meaning the SHORTS are in charge and cracked it on open and all day only taking profit buys at end to secure their ~40c profits
Long tail to 21.50 is very worrying, SHORTS are marking their target lower.

2 BEARISH red candles in a row
BEAR SEASON till 31 October.
LAst year early July 2022 a large 450c SP drop here, sharp and vicious. Will history repeat again?

no wonder AF is pumping his Born Again "Nickel Man" status now after finally remembering his title from 1994. I called years ago on here for FMG to PAY OFF all junk bond debt, build a refinery, expand the PH port berths & get into Nickel Cobalt Manganese production (EV metals) but alas to no avail.


https://ww w . k i t c o . c o  m/ news/2023-07-05/Andrew-Forrest-s-Wyloo-looks-for-more-nickel-deals-as-it-seals-Mincor-buy.html

I also called the H gas cashburning move a furphy and was also proven right.

Headed back to 19.00 imho
Will see if 20.00 can hold or if it does the 100c ledge stage down again or drops 450c in July like it did same time last year or hits 16-18 which is my call for annual lows.

SHORTS IN CHARGE.