Iron Ore Futures ~ Snapshot TA / Coiling like a Steel Roll Long

SGX TSI Iron Ore CFR China (62% Fe Fines) Index Futures,Jun-2024,Composite FuturesSGX

Description

⋅ Aug 28, 2023 3:14 AM

Iron Ore Futures coiling like a steel roll in a series of Lower Highs & Higher Lows since October 2022.

Break above 116.60 = Bullish momentum towards 134.85 (38.2% Fib Retracement)

Break below 99.40 = Bearish momentum towards 77.60 (78.6% Fib Extension)

Seasonality typically favours the Bulls running strong into end of year - we'll see if it still rings true this year, given China's current economic woes..

Boost/Follow appreciated.

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