She is holding firm and steady at $1.82. Opened the week at $1.80 and probable that it will end the week higher. The weekly chart looks good and in the past, significant uptrends nearly always started with a positive weekly candle after a long exhausting downtrend. The MACD, RSI all look good, ready and qualify for a rise from around here. A lot of money can be made here if one ignored the noise and went purely on technical indicators and went in heavy here. We will know in 2 months hindsight if $1.80 was it.
Looking at the weekly and starting from the downtrend at say start of 2014, the price has never stopped and formed a base at any price level for 3 weekly candles. If today's open holds, it will make it 4 times weekly candles where the price held $1.80 level. Feels like some news in the IO industry is going to change soon. Something about supply demand will do it.
Iron Ore Price, page-1891
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Last
$21.41 |
Change
-0.260(1.20%) |
Mkt cap ! $65.92B | |||
| Open | High | Low | Value | Volume |
| $21.52 | $21.67 | $21.30 | $150.5M | 7.000M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 93 | $21.40 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $21.41 | 12657 | 3 |
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| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| FMG (ASX) Chart |