Just wanting to play the devils advocate on this discussion,
Everyone is fearing a market correction with lots of nervous investors, BUT
Jerome Powell stated on thursday he was willing to loosing inflationary measures in order to create American jobs, which means printing more money.
I took this snapshot today of https://markets.*.com/commodities
I get a feeling that other metals will be catching Iron Ore prices, with a lesser extent of Gold and Copper as they already have had a good run.
ATM -I see it as FMG finding its support on how low it can go. I use asx.com.au/data/shortsell/ so I am waiting on a re entry price. I am expecting $16.50 but its a guess!
When the support is found, it will then go into a trading range.
IMHO, markets correct when everyone says this is going on forever, not when people are scared!
Iron ore price, page-23559
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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 |
View Market Depth
| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| FMG (ASX) Chart |