Max negativity generally indicates when the share price has overshot on the downside.
I feel we are not far from that.
Those that says IO price below 80 or 85 USD dollars is taking a big risk. I never like to say never. Considering cost increases since 2020 and inflation. The 8.50aud price in early 2020 is about 11 dollars today.
I honestly forget what the low point was for iron ore pricea in February/March 2020. Maybe low 80s or 70s?
70 to 80 USD per tonne is possible I feel it would definitely be an overshoot. Maybe even possible to see a short spike down into the 60s but market forces will gravitate this back upwards for sure. Sure i am painting a negative possibility but it is definitely a possibility. How likely? I cannot say.
I would wonder if the chinese government will subsidise the iron ore mines.
Life is exciting always.
I want to load up big time and I am biting at the nails when to jump in. Prefer to see a bit more of a resistance (fundamental support factors) for a month or 2 going ahead.
Good luck to all investors. I hope we are all clinking champs this Christmas.
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