These types of sensational guesswork relies on 'what if' scaremongering predictions. Say if FMG drops to $1.66 then there is seriously something wrong with the Chinese market for whatever reasons you can name under the sun. You would then also expect that cost component will adjust accordingly whether it is margin squeeze of the contractors even further or wages simply deflate. Which broking house is that?
On a note from the chart, did anyone see the weekly candle this week that engulf the previous week and broke the support? This could find the 2012/13 support level eventually. 4.00 round number was very tempting to get in but must always respect the extreme bearish momentum. Good luck to those buying next week.
iron ore price, page-9
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Last
$21.90 |
Change
0.040(0.18%) |
Mkt cap ! $67.42B | |||
| Open | High | Low | Value | Volume |
| $21.92 | $22.11 | $21.82 | $224.3M | 10.10M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 3932 | $21.89 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $21.90 | 400 | 1 |
View Market Depth
| Last trade - 16.10pm 20/06/2024 (20 minute delay) ? |
| FMG (ASX) Chart |