China looking to band together to screw miners on price.
Interesting how quickly and how much this will effect pricing going forward.
The strong rhetoric regarding the big 'reopening' has kept this story on the down low for the past month or two.
Funny how these big stories always seem to get highlighted right around when price is hitting a strong resistance or support.
Whats the old saying?
'Show me the chart and I'll tell you the news'
I wonder how much more we'll hear about CMRG this week (as this isn't a new story) and if the latest Covid strategy is still going well or are they having some teething issues there?
Full article CMRG here
Updated IO Daily Chart
.
FMG still sitting in bull territory.
However the close to the week wasn't a positive one.
Strong sell pressure leading into sessions end and closing price one tic off the daily low.
SP is very close proximity to descending support which is around $19.75 atm - bulls want this level to hold.
Oil and IO markets haven't been agreeing on the China reopening story and I still think one of them hasn't been telling the truth lately.
Interesting week ahead...
Iron ore price, page-48580
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Last
$24.37 |
Change
0.310(1.29%) |
Mkt cap ! $75.03B | |||
| Open | High | Low | Value | Volume |
| $24.49 | $24.55 | $24.29 | $90.31M | 3.681M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 5859 | $24.30 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $24.37 | 41509 | 3 |
View Market Depth
| Last trade - 16.10pm 07/06/2024 (20 minute delay) ? |
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Last
$24.30 |
Change
0.310 ( 0.89 %) |
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| Open | High | Low | Volume | ||
| $24.44 | $24.55 | $24.29 | 996350 | ||
| Last updated 15.59pm 07/06/2024 ? | |||||
| FMG (ASX) Chart |