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$MGT.ax $MGT -Daily EMA's Crossing (just) -Supply has been cleared on high volume -3 Month Consolidation pullback and retest of previous Support Zone. Iron Ore up to US$150.88 per tonne A reclaim of the supply level would be really bullish.
MGT Magnetite iron ore play in South Australia with 5Bln tonnes. -Falling Broadening Wedge (Bullish) -0.168 Fib Reversal -targets marked on Chart Plan, Buy on break of falling resistance for confirmation at approx 0.038 entry. Invalidation of trade or breakout @ approx. 0.035
Go the Right direction :) Bullish Pennant, Announcements coming along this month/next month.
VCPs are my favourite patterns. highly lows with generally a drop off in volume followed by a strong push through the pivot. In this case 7.7/7.8c. That might bring in 10c target level.
MGT leading into June with PFS due in the coming month of june. Feel free to rechart it as I'm just learning.
Attempt at using some TA to determine the short term trends and reversals. Once 3.7 is broken 5c is the target.
Port Pirie is slightly closer, however another option is never a bad thing. The approval also highlights that the SA government is taking active steps to support its vision that "By 2030, South Australia will be a leading global supplier of quality magnetite products for steelmaking". South Australia's Magnetite strategy is going to be massive 00.15 by 2022 ...