Iron ore and Iron stocks - can we expect a rebound? Long

CHAMPION IRON LIMITEDASX

Description

⋅ Sep 24, 2021 9:16 AM

Charts look absolutely similar between iron futures and iron mining companies.

SGX:FEF1!

ASX:FMG (Australian Iron Giant)

ASX:CIA (Australian Mining Company) - in the main chart

NYSE:VALE (Brazilian Iron minor listed as US depository)

Looking at Iron future's previous retracement - which is almost equal to 0.786, we may be in the oversold territory.

While CIA shows strong bullish divergence

FMG and Iron futures show bearish hidden divergence following strong bullish divergence.

Conclusion:

Good to open small position and wait for next leg up and pullback. Cut losses if new lower low is made.

⋅ Nov 23, 2021 12:58 PM

Iron ore still going lower. But, iron stocks spiked up.

If iron does not move up, expect a sharp drop soon!!

Comments

greyicecream

⋅ Oct 9, 2021 1:52 PM

its getting ready...

Trendoscope

⋅ Oct 9, 2021 2:01 PM

@greyicecream, Lets see what next week brings :)

namchum2006

⋅ Sep 29, 2021 11:14 AM

Big fan of you

ankitagarwal89a

⋅ Sep 26, 2021 5:06 AM

Good work, thanks !!

naveendananjaya

⋅ Oct 14, 2021 4:54 AM

// I'll be grateful if you can share the V3 of Harmonic Pattern //

Trendoscope

⋅ Oct 14, 2021 7:09 AM

@naveendananjaya, Its not ready yet. What you are seeing is same as that of V2 with slight change in display

VirgoICT

⋅ Oct 12, 2021 6:39 AM

Hello, Not able to DM you I'll be grateful if you can share the V3 of Harmonic Pattern

Trendoscope

⋅ Oct 14, 2021 7:09 AM

@omerkhan02, Not ready yet.

Emelia70

⋅ Oct 18, 2021 2:03 PM

@HeWhoMustNotBeNamed, great fan of your work helping lot of lives out here in Africa you really making a change in the world.