Chance for a sideways drift, but numbers suggest with current resource boom, supply is outrunning Chinese demand in short/medium term.
The recent iron ore rally structure and sentiment seems to be typical of a bear market. Their steel production curve has/is topping, even though more ore is being sold into market.
Their property sector is under pressure for larger correction, even though high apartment volume is being brought online in next few months.
Base metal inventory levels have started to bolt, Copper ready to join them. Even agricultural prices are cascading back.
Reasonable risk the markets are about to run off another cliff. Could rattle off bunch of technicals and correlations making ectos eyes water, but not needed.
which way is it going?, page-14
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Last
$39.60 |
Change
0.790(2.04%) |
Mkt cap ! $200.9B | |||
| Open | High | Low | Value | Volume |
| $39.19 | $39.87 | $39.10 | $371.9M | 9.393M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 10101 | $39.55 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $39.60 | 18075 | 2 |
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| Last trade - 16.10pm 13/09/2024 (20 minute delay) ? |
| BHP (ASX) Chart |