Iron ore futures contracts have reached two-year highs driven by a dam collapse at a Vale mine in Brazil. The work of the mine was suspended, which affects the volume of supply in the market.
Such an accident is difficult to fix in a short time, and the market agrees. We see it in the prices of long term futures contracts.
Since the accident, the rise in the...
3 scenarios: 2 bull 1 bear.
1. Bullish upper trend-line break from first wave leading diagonal (T1 equal to or greater than $106 and T2 ~$139),
2. ABC correction (blue) following extended correction - we are currently in wave B triangle (T1 $106 for 1:1 wave A),
3. Downward breakout for additional corrective retrace.
At this stage scenario 2 looks the more...
Vale is currently benefiting from the rise in iron and copper ore over the last several months. The stock broke out back on 12/20 and ripped higher for weeks until the recent market volatility caught hold of it. However, even as the market as tanked Vale has held up relatively well, ~4.6% vs. ~8.8% drop for the S&P500. Look for the stock to shoot higher is the...
Hazer Group today broke out on light volume. The previous move (spurred by material news in regards to their graphite and hydrogen technology) of ~65% from $0.41 to $0.68 represents a move of $0.27 which gives this latest movement a target of $0.85. This also correlates with the historical all-time high.
Since the initial move the on 3/10/17 the previous price...
$AUDUSD appears to have comp0leted a correction and is ready to resume the monthly uptrend. We're long and added here at 0.7850 for the last time, after buying at 0.7835 initially.
The trend in EV adoption is driving flows here I suspect, with an increase in the price of copper, iron ore, cobalt, nickel, and other materials required for different battery types....
Very good risk to reward trade, very manageable with a tight stop below the swing low. A clean break above 78 would signal a trend change in AUD, go long on pullbacks after breakout beyond 78.
$AUDUSD appears to be about to rally for the intermediate to long term, judging by how the pair has been acting lately, as well as how fundamentals are setting up. With oil in a strong advance, commodities are potentially rallying higher, which would boost currencies like the Aussie dollar.
The technical chart here shows the pair is coming up after being heavily...
Hi guys,
In effect, this is an extension of my aussie trade posted pre-Trump (26th October 2016) in which we bagged 500 pips.
AUDUSD has seen rapid recovery off the back of both dollar weakness (mainly due to lack of details of the US administration's economic plans) and rapidly rising commodity prices, in particular iron ore (/it has rallied 10% recently,...
If AUDUSD is to hold here, and eventually break out, and cross the overhead resistance, we can see a massive rally take off, which you definitely don't want to miss. If you missed my previous entries, you may go long here, risking a drop under 0.7811. Keep risk to 0.5-1%. This is a swing trade setup.
If you want, additionally, or perhaps if more conservative, you...
As $ITI has not exhibited an upward EW pattern before, all we have to go off for a fractal match is to overlay the first and second waves. This gives us a pullback from the current position back the to 61.8% fib (around USD64) and then a further run up to a high of USD96 before falling back again.
Of course, as always this depends on the Chinese economy, and now...
Looking at monthly ranges, we see that months with sharp selloffs, that surpass the previous true range, as measured from the open to the low, have been causing sellers to get trapped at increasingly higher prices. This is bullish and shows accumulation, and shakeouts taking place. The monthly chart shows a mode near the highs, and now we're testing support at the...
We do see a strong inverse head and shoulder breakout on the weekly chart, however, still it is premature to say that a major trend reversal has happened.
This is because the descending trend line drawn from the Feb 2013 and Dec 2013 high is yet to be breached. Once breached on the weekly chart, the bulls could call a long-term trend reversal.
Note – Failure...
The weekly chart of the Nymex Iron Ore futures shows a bullish inverse head and shoulder breakout. This is a clear reversal pattern…especially since the inverse head and shoulder has appeared at the bottom of the 5-year long downtrend.
The bullish break is good news for the Australian dollar (AUD) given the close correlation between the two.
Increased odds of...
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