R360.00 is clear support here... as highlighted in yellow circles, march saw similar action where the stock consolidated just under the 200wma before igniting a rally of some proportion. Are we going to see something similar here?
By the end of 2022, the price of iron ore is expected to hit their lowest level in three or four years as global demand for the commodity continues to slow down, particularly from China, the world's largest consumer of iron ore.
In recent years, China has been cutting down its iron ore demand especially after the government placed restrictions on the industry to...
Iron ore prices have carved out a Descending Triangle pattern. That puts a breakdown on the table if prices pierce below wedge support. The measured move puts a downside target well below the 90 psychological level, leaving the 2021 low in focus.
Fundamentals :
The China Factor : Australia's economy is intimately linked to trade with China.
(1) China's lack of demand for iron ore as their economy undergoes a recession.
" Disaster looming in Australian economy as iron ore demand falls " (Daily Telegraph: www.dailytelegraph.com.au )
www.imf.org
fred.stlouisfed.org
markets.businessinsider.com
(2)...
We recently shared a chart of JSE:KIO , then KIO was at the support level. JSE:KIO is currently below the support level, and there's above average selling volume. The stock might go lower.
JSE:KIO is at an area of value. The level provided support in Nov '21, will history repeat itself? One can always hope that the support will help, until it doesn't. Dividend came in for investors yesterday (EasyEquities platform).
No position.
Thanks for viewing
Just a simple technical analysis of the share price of FMG assuming continued correction from all time highs. Mostly just based on the Iron ore price having lost 55% from 2021 highs and still being 50% (while FMG is only down only 28%) down presently.
Mapped out some support / demand and resistance / supply zones. Thinking something around...
Things seem to be going well down under. With Iron Ore prices jumping close to 8% last week, Australia, the largest exporter of the raw material stands to benefit greatly. In 2021, Iron Ore exports totaled close to US$120 billion. This contributes greatly to the demand side pressure on the Australian dollar.
Looking at the charts, the AUDUSD pair is currently...
So I'm most of the way through Jessie Livermore's classic books on audible Reminiscences of a Stock Operator & Jesse Livermore’s Methods of Trading in Stocks . Looking back at this FMG chart could this be considered a Livermore accumulation cylinder? Love to know your thoughts! Comment / Find me on Twitter.
The Australian Dollar has weakened in recent weeks due to Iron Ore prices declining as China's zero covid policy has caused investors to fear a slowdown in the world's second-biggest economy.
Australia exports 80% of Iron ore to China, so any slowdown in China will hit demand for Australia's commodity exports and put downward pressure on the currency.
We also...
In this video I break down why the Australian Dollar is bullish because Iron Ore prices are rallying due to the war in Ukraine.
Iron Ore is Australia's key commodity export, therefore higher prices increases the demand for Australian Dollars.
Watch this video to learn how commodities have an impact on certain currencies in the Forex market.
From mid-September until the end of October, Iron Ore appeared to have found a safe space above US $100. Now, after a steep decline beginning October 27, 2021, Iron Ore has started to test May 2020 lows, close to US $90 per metric tonne. The commodity is grating against predictions by ANZ Bank (ASX: ANZ) for it to “find a floor around current levels”.
Demand (or...
Fortescue has been in a steady downtrend since the drop of iron ore prices in August. Since October, however, it was able to hold support at around 14 over and over again. With the recent drop in SGX:FEF1! this especially notable.
I am fundamentally bullish on Fortescue due to its fundamentals (balance sheet, green hydrogen ambitions, autonomous hauling) but...
So the Fe ore price hasn't caught up to FMG yet, with sentiment being LOW LOW LOW LOW
a big skew IH&S is what I reckon shoudl happen... let's see the next few weeks.
I thought it woudl keep going up, but it's exytended that thin bullflag into a lower cell - so double and and there's snot only neat symmetry with a lower cell and a good waisteband lining up with features to hang them off, but multiple gradients in there .. SO another week or so for FMG, I'd reckon, with a retest of the TL below - see teh RSI30 line coming up to...
AUDCHF is plummeting at the market open today prior to the CHF trade balance data, which reveals the balance of imports and exports in Switzerland. Technically the pair is rebounding out of the fibonacci golden pocket resistance, and we are looking for downside into the 0.6650 level.
The recent drop in iron ore prices has seen the major mining companies being beaten down, the selling has now reached panic proportions and of all the big miners Fortescue has faired the worst. While I am not saying this is a good time to buy, as iron ore prices still have fundamental head winds to contend with and the prices can certainly move much lower before...
