Technical analysis measures price action.It does not measure fundamentals.
Technical analysis certainly didn't predict this price move.
It allows you to take the temperature at any given time as to whether it is overheated,oversold or just plain neutral.
I'm not moving the goal posts.The price action is.
Once a price target has been exceeded then the next price target comes into play.its just the way it works.
I haven't actually predicted a price where it will turn.I thought that 5.79 would be a stretch and I was wrong but I didn't predict that it wouldn't get there.No one knows.
Iron ore price, page-9560
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Last
$21.23 |
Change
-0.290(1.35%) |
Mkt cap ! $65.52B | |||
| Open | High | Low | Value | Volume |
| $21.60 | $21.64 | $21.16 | $76.63M | 3.591M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 251 | $21.23 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $21.24 | 8146 | 24 |
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| Last trade - 14.56pm 23/07/2024 (20 minute delay) ? |
| FMG (ASX) Chart |