–
ASX stock Analysis FMG
Time Frame : Daily Chart
–
Watching for Sell Entry Setup
FMG may be starting to build some negative price action as price fails to kick on back up to the highs and is extended on the weekly chart. With the rise in the USD, pressure is on Iron Ore prices and may continue if the USD continues higher. Throw in the mix the nervousness for a bond yield led selloff and FMG may be a short candidate. Watching for price to hold a higher low and pressure down through the 21.00 zone and start to see some long term buyers put under pressure….still early days.
–
Stock : ASX stock FMG
Current Price : 22.11
Status : On watch for a move below 21.00 and the 19.00
–
