#ZIOC – After the cost of a iron ore breached $100 today, we are looking for opportunities to improve supply of iron ore globally… Zanaga is setup to start capitalising on its 2.1bn ore reserve, with a staged development about to happen that will see 30Mtpa in operation.
Strong buy…
The key range I posted previously was 9 to 14 p.
Non believers of charts did not understand the importance of this range.
The all time POC is exactly midrange of these levels. Coincidence? Well no...
2 monthly rejections of the 3 year uptrend are not a good look.
Long term, the move looks more corrective than bullish.
All can change if we close back over the uptrend line.
Good that we have broken and closed back above the .382 Fibb, as that suggests we are might not just be dead cat bouncing. A push up in the next 5 days would be good just to make this...
