I'm seeing both bullish and bearish characteristics. I feel the monthly stochastic is indicating a good monthly gain coming.
But the current daily chart and past 6 trading days showing low volume, narrow daily price range and upward tilting is very unusual. I have seen this before and is usually consistent with some kind of announcement that causes a sudden drop. But on some occasions, you can get an upward spike.
One thing for sure, this upward tilting, narrow price range and low volume can't continue much longer. We should see something happen soon.
I had planned to go heavy. But while in this pattern, I am stuck in two minds and don't feel easy to buy more. The price action of late is just too unusual.
Iron Ore Price, page-79
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Last
$17.73 |
Change
-0.210(1.17%) |
Mkt cap ! $54.59B | |||
| Open | High | Low | Value | Volume |
| $17.86 | $18.00 | $17.67 | $106.1M | 5.956M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 3136 | $17.73 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $17.76 | 10562 | 2 |
View Market Depth
| Last trade - 16.10pm 15/11/2024 (20 minute delay) ? |
| FMG (ASX) Chart |